"Fish are jumpin' and the cotton is high..." Eight months in a row!• Raleigh home sales were up a staggering 32.1% over last February.• Average Raleigh home prices have begun to stabilize and were up by 0.1%. • It took less than two weeks longer to sell a home this February than in February 2011. • But, sellers held off listing homes by -10.5% in comparison to last February. What Does All this Mean?Once again Raleigh home sales have increased. This is quite a record at eight months in a row. In addition, there was over a 26% increase in home sales over January. Let's take a look at a couple of factors which appear to be happening. The entrance to the Raleigh home market appears to have two escalators. One going up during eight months of a continuing increase in sales. The other going down shown by a continuing decrease in listings of Raleigh homes for sale. If you look at the data, there seem to be just about as many folks on the escalator going down as on the escalator going up - 208 fewer listings and 193 in increased home buyers compared to last February. Another factor which illustrates an imbalance here is that last year, in February, there were 9.5 months of Raleigh home inventory awaiting sales. This February, there was only 6.5 month's supply. That is a phenomenal decrease of -31.3%. So, we have one escalator zipping up with happy home buyers and the other escalator moving down and down with hesitant home sellers. The following are a couple of questions for home owners who are sitting on the "Should we or shouldn't we?" fence: • Are we better off listing our home when there is a continuing and significant increase in home sales or when there is little or no improvement in monthly sales?• Are we better off, from a competitive standpoint, marketing our home when there are fewer or greater numbers of homes on the market? • Are we better off marketing our homes when interest rates are at historical lows or wait for interest rates to make their inevitable climb back to 6%, 7%, or more? The answers would appear to be obvious. These questions were posed to simply make clear what is really at stake in making a decision when to place a home up for sale. The time is now. And, for home buyers, the time buy a homes is also now and not wait for prices and interest rates to climb. All of the data strongly suggests that this is an optimal time to buy a home. Why wait? Raleigh Home Buyers and Sellers Feel free to contact us with your questions. We're easy to talk to and we can answer any questions you might have about current market conditions, interest rates or where Raleigh home prices are headed. If you're interested in talking about listing your home we'd be happy to provide our recommendations on how best to proceed to market your home. We'll also provide you with a Raleigh Neighborhood Report that will let you know what has been happening with home sales in your individual neighborhood. The Raleigh Housing Market Reports below will give you a detailed look inside the current and past Raleigh Area Housing Market. Wake County Housing Market Updates - February 2012North Raleigh Housing Market Updates - February 2012Inside The Beltline Housing Market Updates - February 2012Wake Forest Housing Market Updates - February 2012Raleigh 2011 Year End Housing Market ReportRaleigh Housing Market Report ArchivesIf you have questions about the Raleigh Real Estate Market Email Us or Call Us Today at 919-280-2726
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