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Report: Central NC housing market on the upswing

Posted September 13, 2012

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— Home sales in central North Carolina are on the upswing, according to a real estate market report released Thursday.

Triangle Multiple Listing Service, which compiles home sales data for Wake, Durham, Orange and 13 other counties, said sales are up, inventory is down and homes are holding on to more of their property value.

New listings were up 7.5 percent to 3,240 in August, compared with the same month last year.

Pending sales in August were up 26.4 percent to 2,310, compared with the same month last year.

Inventory levels shrank 25.3 percent to 13,052 in that time, while the median sale price increased 3.8 percent to $192,000, according to the report.

Ray Larcher, president of Triangle MLS, said the numbers reflect a recovering economy.

“The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace,” he said. “There's reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a large role in that positive outlook.”
 

See county-by-county market reports at the Triangle MLS website.
 

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  • Tarheel7074 Sep 14, 2012

    SueNC, please give us a link to validate your uninformed opinion that the banks are lending to a majority of people who are unqualified buyers again. Anyone who has been on earth in the last year knows that the banks/lenders who are making loans via Fannie Mae guidelines have significantly strengthened the requirements for conventional financing of a single family primary residence.

  • NCSUEngineerFC Sep 14, 2012

    And if you want to talk about logic, you should know that I illegally used universal generalization ;-).

  • WooHoo2You Sep 14, 2012

    More Obama reelect propaganda. The media will run every article with positive economic spin to benefit their guy.-meeper

    That’s funny because you can be found treating 'the media' as the Word of God in many articles....when convenient of course!

  • NCSUEngineerFC Sep 14, 2012

    (Holds as much water as you ‘logic.’) -WooHoo2You

    At least I know when to use "your" instead of "you."

    Anyways, I was only trying to give an example from the "street." If I had left out "Not sure where this article holds its water," I guess my comment would have been more objective.

  • WooHoo2You Sep 14, 2012

    There are at least 4 houses in my neighborhood that are for sale and have been on the market for at least 4-5 months. One of them is my neighbor's house and I haven't seen much foot traffic involving potential buyers. Not sure where this article holds its water.-NCSUEngineerFC

    So if one plane crashes all the rest must be incapable of flight? (Holds as much water as you ‘logic.’)

  • NCSUEngineerFC Sep 14, 2012

    There are at least 4 houses in my neighborhood that are for sale and have been on the market for at least 4-5 months. One of them is my neighbor's house and I haven't seen much foot traffic involving potential buyers. Not sure where this article holds its water.

  • meeper Sep 14, 2012

    More Obama reelect propaganda. The media will run every article with positive economic spin to benefit their guy.

  • SueInNC Sep 14, 2012

    All this means is that the banks are lending money to unqualified people again. (not all, but a lot of people are still not qualified to own a home) Deja vu all over again, people.

  • harleysfather60 Sep 14, 2012

    Realtors sell real estate. They always say the market is doing great. Seen many sold signs lately ?