Wednesday, November 04, 2009

For The Record...NC Real Estate Update

Per Issue 6, November/December 2009 North Carolina Realtors Association:

Just some quick factoids regarding the current state of NC real estate. We hear so much nationwide news, I thought it would be beneficial to share some state numbers with you. Keep in mind, all real estate is local and even though these are state numbers, numbers specific to your area and/or neighborhood can be obtained by contacting me, Brooke Cashion at 336-817-3598 or brooke.cashion@allentate.com

*First-time buyers continue to fuel the housing rebound. Most are between the ages of 25-45 and they have accounted for nearly 50% of the homes sales in the first 7 months of 2009!!

*NC existing homes sales posted its fourth consecutive month of improvement in September, the longest period of gain in 5 years. **My commentary** This may be attributed to prices adjusting to more "normal" levels**

*NC ranks as the 6th most popular state in the nation when it comes to where people want to love, according to a recent Harris interactive poll.

*National foreclosure rates soared in the 3rd quarter with 1 in every 136 homes going into foreclosure...HOWEVER in NC, we had the 14th lowest rate of foreclosure with only 1 in every 417 homes going into foreclosure.

Please feel free to post commentary on your observations of these facts and figures and contribute any additional pertinent information you may have, including references and links.

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