August Real Estate News Headlines
National news headlines include encouraging phrases like "Recovery Takes Hold," "Home Prices on the Rise" and "Situation Eases for Sellers."
With two-thirds of 2012 complete, we're starting to get a sense for how the year will shake out in Real Estate. Local market conditions can vary. Let's see what went on in Triangle Real Estate for August, 2012:
· New Real Estate Listings in the Triangle region increased 7.5 percent to 3,240.
· Pending Real Estate Sales were up 26.4 percent to 2,310.
· Real Estate Inventory levels shrank 25.3 percent to 13,052 units.
· Real Estate Prices moved higher. The Median Sales Price increased 3.8 percent to $192,100.
· Days on Market was down 8.8 percent to 115 days.
· The Real Estate supply-demand balance stabilized as Months Supply of Inventory was down 35.4 percent to 7.0 months. We’re getting closer to that magic number of 6 month supply which indicates a balanced market.
With election season in full swing, both politicians and economists will place extra emphasis on jobs and unemployment figures. The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace.
There's reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a larger role in that positive outlook.
Got questions? Get in touch & I’ll be glad to get you the right answers!
 |
| Be Savvy...Call the Smart Realtor! |
Source: Triangle Multiple Listing Service
No comments:
Post a Comment