triangle market news & information

New Home Sales in November 2009

Triangle Real Estate Market News

Saturday, 26 December 2009 14:34

Real Estate statistics can be confusing. Just before Christmas, a report was released by the US Census Bureau indicating that new home sales in the U.S. dropped 11.3% in November. This negative report appears to contradict the good news from NAR (National Association of Realtors) a few days earlier that existing home sales were up 7 or so percent for November.

Two different reports – two different directions for the market– why the contradiction?

Read more: New Home Sales in November 2009

Wake County Foreclosure Data by Price

Triangle Real Estate Market News

Tuesday, 22 December 2009 16:49

I spent some time this morning looking at the Wake County foreclosure data I pulled from the Triangle Multiple Listing Service last week. My original analysis looked at the specific neighborhoods and location of foreclosures in Wake County to get a handle of where the problem areas have been over the past 3 years.

Today, I was investigating the foreclosures by price range to see at what price points the foreclosures have been happening in Wake County.  This table includes all actives, pendings, closed, withdrawns & expireds.

Read more: Wake County Foreclosure Data by Price

Triangle November 2009 Home Sales

Triangle Real Estate Market News

Saturday, 19 December 2009 00:00

The latest home sales numbers for the Triangle have been published by the Triangle Multiple Listing Service.  The News & Observer has written a summary (Click Here for the article).

The recap is that on a monthly comparison to 2008, November 2009 was very strong - closings up 71%.  Per the article and as we'd expect, any comparison to 12 months back or 24 months back may need to be taken with a grain of salt due to the extreme nature of the slow down during this time periods.  Again, the sub market compenent should be examined - the specific locations and price ranges that have not been impacted by the slow down (Cary, Morrisville Detached Under 300K) which have been "white hot" versus those that have been hammered (North Raleigh/Wake Forest 800K Plus).

I have been waiting on November 2009 showing statistics - this reporter has seen them and notes that November 2009 showings were down 5 percent from 2008.  I'll look for these numbers in the next few days and update the charts.

Wake County Foreclosure Data

Triangle Real Estate Market News

Sunday, 13 December 2009 05:37

I’m often asked about foreclosure activity in the Triangle real estate market.  We have been very fortunate over the years not to have a tremendous volume of foreclosure properties impacting our market – but the numbers have certainly increased over the past two and a half years.

Anecdotally, I’ve noticed higher levels of foreclosures in specific areas of Wake County as I monitor the market – particularly in North East and South East Raleigh. Last week, I pulled the foreclosure data offered in Triangle Multiple Listing Service since January 2007 and have been summarizing some of the data to get some more concrete metrics and to answer the following questions:

• Where are the foreclosures happening in Wake County?
• What specific neighborhoods in Wake County are being impacted by foreclosures?
• What areas or sub markets are seeing the highest percentage of foreclosure activity based on the number of transactions for the sub markets?

Read more: Wake County Foreclosure Data