The spring selling season is showing signs of prosperity according to David Bracken of the News & Observer. And us here in the Chapel Hill/Durham, North Carolina area are excited about it. Triangle Multiple Listing Services has shown that pending home sales increased 22%, while showings improved by 11% from the same time last-year 2011. According to Cary, North Carolina Appraiser Stacey Adfindsen, the influence of federal tax credits caused sales levels to fluctuate for several years. But with 6,317 showings in March 2012, which is the most recorded since April 2010, and first quarter home sales at 3,647 in Durham, Johnston, Orange and Wake Counties, it looks like the local market is settling into a normal routine. The area is inching back towards the 2008 year home sales of 4,541. And that’s what we like to see. An improved housing market on Tobacco Road.
John Wood of Re/Max United in Cary, North Carolina, said he personally had best his first quarter in four years. “We’re seeing more multiple offers,” he said. “But I won’t say that prices are headed upward yet.” The evidence shows that home prices are actually dropping here in the Triangle area. The Housing Price Index published by the Federal Housing Finance Agency, shows that Durham-Chapel Hill and Raleigh-Cary,NC have seen 11 consecutive quarters of housing price declines. Wood stated, “Price stabilization will come, it will just take time.” “Your first stage of recovery is getting the units up and inventory down,” And that’s just what we aim to do here at TeamJodi Realty. We strive to get inventory down by providing you the very best in Professional home sales, listings, rentals and HOA management in Chapel Hill, Durham, Carrboro, Chatham, Hillsborough and Orange County, NC.
Be sure to read the article by David Bracken of the News & Observer in its entirety HERE.