Yes.

That is the short answer, but with the media covering the Real Estate Market across the country and leaving scattered information as a blanket summation I have to clarify.  In general as everyone knows the market is down, even locally.  This has to do with a number of things, but the issues holding up our Raleigh/Durham Market are different than things holding up say the California Market or Florida Market.

Basically, speculation on rates and what's happening with our economy is a major roadblock for current buyers locally.  A bigger and more important issue is potential buyers not being able to sell their home in.....Detroit before buying a home in Raleigh.  With that said, Raleigh did not have the huge appreciation for the past decade some places did that have sellers upside down and taking blood baths on their homes.  It is still an OKAY market just slower..=correction. The market is correcting itself and it usually is not that fun when you are in "the business".

Moreover, Real Estate is local as far as pricing and days on the market go for an individual market also.  What I mean is take the Raleigh area for example.  Raleigh is local within Raleigh.  Take a 1500 square foot house, exact floor plan and same size lot, same siding and fixtures inside.  In one part of Raleigh it may be worth x amount of dollars less that the other part of Raleigh.  Why?  Location=local.  It depends on the areas schools, proximity to hospitals, shopping and the list goes on.  If you look at statistics from our local MLS you may find that days on the market is A LOT lower for the Cary area than parts of Raleigh, but if you look closer you may see that houses listed over $400K in the Cary area are A LOT more than the same price point in another area of this market.  LOCAL.  I have said before that selling a home is very circumstantial and location has a very vital role in circumstance.  I hope you find this information useful and feel free to visit our site for more details.