Housing permits, closings down, so far, in 2009
Numbers released Monday show home closings are down nearly 40 percent over this time last year and that building permits are down nearly 60 percent.
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The latest figures from the Market Opportunity Research Enterprises show that for the Raleigh-Durham region, there were 3,898 home closings in the first quarter of 2009; down from 6,238 from the same period in 2008.
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Minton said that because there is less home construction, there are fewer homes on the market and less competition for sellers. That, he said, is what needs to continue to happen to turn the market around.
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