Real Estate Market Metrics Continue to Positive Trend

Posted on 10/22/12 No Comments

Markets around the country are reporting that the average time on the market for homes is decreasing, which means a few good things for the overall real estate market.

First, it demonstrates that there are more qualified buyers in the market. Too often, slow sales are pinned on a general lack of interested home buyers. That’s rarely the case. It’s usually about getting people qualified. The message taken from the increase in more qualified buyers is that both jobs and financial stability are increasing. Granted, the job market is far from where it should be.

Related to the above, the decrease in time on market also shows that competition in the market is improving, which helps pricing. published the following today, “There’s a recovery,” Curt Beardsley, vice president of, told BusinessWeek. “Our market times are low and there’s actually a compression of inventory.”

Helping all of this, of course, is the continued availability of low mortgage rates. reported that “Rates on 30-year fixed-rate mortgages averaged 3.37 percent with an average 0.7 point for the week ending Oct. 18, down from 3.39 percent last week and 4.11 percent a year ago … 

Being one of the nation’s top performing real estate markets, the Triangle can expect to be ahead of the curve on the majority of nationally-positive real estate metrics. To date, 2012 has gone as forecasted: steady, moderate growth. What lies ahead, to us, looks to be even more positive.

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