Chatham County and North Carolina saw lower than expected traffic according to the Credit Suisse Realtor Survey. As a monthly contributor to the report for the area, I get sent copies of the report which I share with my clients and my agents.
A copy of the full report can be downloaded here http://www.remaxchatham.com/reports/RealtorSurvey10-8-2009.pdf
Traffic for first time homebuyers and investors looking for foreclosures and deals continued to lead the traffic. First time homebuyers looking to take advantage of the tax credit at the last minute have been some of the most active buyers in the area.
Home prices continued to slide. The length of time needed to sell also increased slightly month over month.
As the Triangle area tends to be the last region to go into an economic slowdown, it may lag some other areas now in recover as well. Although the Triangle did not make it into the top 20 markets in the U.S. this period, it was still rated as a market to watch.
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