"In recent months there have been a slew of reports across the U.S. about the softening real estate market. On Aug. 8, economists at the National Association of REALTORS@ predicted that by year's end, 2006 national home sales would show a 6.5 percent decrease. In California, existing home sales were down by 26% during the month of June. Florida showed a 29% decrease in June."
The news is a lot different here at home.
During the month of June, N.C. home sales were up 7% from one year earlier. After the first half of the year, N.C. existing home sales had shown a 9% increase as opposed to the first half of 2005. Pretty strong, especially when you consider our state has had five straight record years of existing home sales. Then there's the Raleigh-Durham area. Research from Veros Real Estate Solutions projects that "home prices in Raleigh and Durham will rise about 8% over the next year."
An article out of Washington in the News & Observer, Oct. 4, 2006, talks about prices declining in more than 100 metro areas, BUT, in the Raleigh-Cary area, homes are expected to increase at an annual rate of 3.1 percent through the second quarter of 2008. For the complete article, just contact us and we'll send you a copy by E-mail.
With this in mind, give us a call before you go out and look at houses. We are able to advise you on all areas of the real estate business in Raleigh, Cary and surrounding areas. Please remember that when buying a home, we can represent you as your buyers agent at no cost to you. If you want to sell your home, please contact us to discuss our marketing rates.
Joe and Jane Mansell, esp, e-PRO
Mansell Real Estate Group (Owner/Brokers)
Direct line: 919-302-5528
Website: http://www.TheMansells.com