Business

Home show crowds sign Triangle housing market is perking up

Posted September 23, 2012

— A big turnout at the Southern Ideal Home Show at the State Fairgrounds in Raleigh this weekend shows that business is back up in the Triangle housing market, organizers say.

The people driving the Triangle housing market include Bill and Marilyn Lam, who went to the home show seeking inspiration for their dream house.

"This is going to be the last home we'll ever have, so we want to build it the way we want it," Bill Lam said.

Although the economy is challenging, the couple said they felt there was not a better time to take the plunge.

"With interest rates as low as they are, it's almost like free money," Marilyn Lam said.

So far this year, home sales in the Triangle are up more than 18 percent compared to August 2011. In Wake County, sales are up nearly 23 percent.

New building permits are up more than 25 percent, while permits for remodeling and additions are flat compared to 2011. 

For those looking to spruce up their homes, the Southern Ideal Home Show offered an opportunity to learn more about the nuts and bolts of remodeling.

Southern Ideal Home Show draws big crowds Southern Ideal Home Show draws big crowds

"It's good to touch and feel and take a real, good look, talk to contractors," homeowner Andrew Kasab said.

Average home prices around the Triangle have also risen. In Wake County, the number of days that it takes for houses to sell was down nearly 9 percent in August compared to a year earlier.

37 Comments

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  • djofraleigh Sep 28, 12:06 p.m.

    I very much doubt this will reach the turmoil level that it did last time...I smell political slant all ove rthis

  • ldestefano63 Sep 24, 7:34 p.m.

    Improvement ? More people went because they didn't charge $10 to get into it this year.

  • timexliving Sep 24, 6:27 p.m.

    "New building permits are up more than 25 percent"

    Up from 0% means there is still a long, long way to go.

  • baracus Sep 24, 5:11 p.m.

    "Wow, people are still commenting on this "proof of improvement?" I forgot about this one this morning."

    Ah, strawman quotes. Nobody said it was "proof of improvement" but it sure is easier to argue against that, so just pretend they did. See also: the "evil" rich.

  • rsgolo Sep 24, 4:41 p.m.

    Wow, people are still commenting on this "proof of improvement?" I forgot about this one this morning.

  • JimFink Sep 24, 1:55 p.m.

    DBB, you are a riot! The nerve you have producing facts! I love the "now back to your regularly scheduled crying and passing the blame." You will have me thinking about that all day. Very funny. I prefer facts over fear also. Great post.

  • DBB Sep 24, 12:49 p.m.

    Here are solid factual numbers for you... -Building permits issued in Wake county for the month of July were up 57% vs the same month from 2011 (sign of improvement). -This increase increases the overall number for 2012 to 28% more than last year during the same time period (sign of improvement). -Improvements were shown in nearly every municipality for the month of July. Average permit value is now set at $204K with 2,740 permits pulled. This economic activity would generate 8,220 jobs in Wake County this year (another sign of improvement, oh, and looky there; NEW jobs).

    All this can easily be verified at www.wakegov.com

    This hard dose of reality has now concluded. Yes, there are very strong signs of improvement. Maybe it is time for some (many) of you to stop blaming other people (the government, Obama, Bush, whoever) for your own personal shortcomings and either work harder, adapt or change your lifestyles.

    Now back to your regularly scheduled crying and passing the blame.

  • davido Sep 24, 11:28 a.m.

    to jblake: from the article dude: So far this year, home sales in the Triangle are up more than 18 percent compared to August 2011. In Wake County, sales are up nearly 23 percent.

    New building permits are up more than 25 percent, while permits for remodeling and additions are flat compared to 2011.

  • baracus Sep 24, 11:27 a.m.

    "Woo, how are my claims empty? Are they any emptier than the claims by this article that the attendance to this show is proof that the economy and housing market are improving? Care to back those claims?"

    Where does the article say that the attendance was "proof" the housing market is improving? The headline says it is a "sign". The first paragraph is an assertion by the event organizers who obviously have their own bias. Regardless, whether or not there is a correlation between the attendance and the housing market, other data does indicate that there is some improvement.

  • wsmith8309 Sep 24, 11:26 a.m.

    How exactly does a large turnout at the home show translate into the housing market improving? This article is a perfect example of the "spin" that liberal media is desperately trying to put on any story possible, with just weeks to go now before the election, to make it appear that the current administration has turned things around…

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