Lawrence Yun, Chief Economist of the National Association of Realtors, recently wrote an article in a leading Realtor magazine about the lack of jobs & home sales. 

He mentioned that many businesses are seeing profit growth but because of uncertainties in the economy,he noted,companies are still not hiring employees.  With continued high unemployment,he said, buyers are not purchasing homes. 

I think Lawrence is "right on the money" with this! Real estate has been a bit slower to sell in Chapel Hill and Durham than we typically see in a late summer and fall market;and I attribute this to the local lack of hiring here in the "Triangle".

In areas like Houston and Washington, D.C., where businesses have started to create jobs, sales contracts have remained healthy. That's what we want to see in Chapel Hill and Durham, NC!! 

Do you agree with us?  Why do you think the housing market is slow?What's going on in your area?