The Week in Review Wilmington NC March 27, 2011

By
Real Estate Agent with Coldwell Banker Seacoast Realty

The Week in Review

....your Wilmington Connection

March 27, 2011

Thinking of moving?  Now is a great time, mortgage rates are still low and home prices are at an all time low.  What are you waiting for? Drop me an email and lets get started.  Sellers if you are thinking of selling now is the time to get your home on the market and lets get it marketed in all the right places. 

 Wilmington NC Real Estate

Ok so the buyers are coming back to the market, its that time of year...spring. This is what we are seeing 2074single family homes are on the market 180 homes are under contract and in the last month there have been 143 homes closed. Granted 70 of those were priced under $200,000.

NC unemployment drops

Unemployment numbers: North Carolina's jobless rate dipped slightly in February to 9.7 percent from 9.8 percent in January, the News & Observer reports on numbers released.

Existing Home sales in February Drop after Substantial Gains

Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®. 

Existing-home sales,  transactions that include single-family, townhomes, condominiums  dropped 9.6 percent to a adjusted annual rate of 4.88 million in February from a revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010.

Lawrence Yun NAR chief economist, expects an uneven recovery.  "Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained by the twin problems of unnecessarily tight credit, and a measurable level of contract cancellations from some appraisals not supporting prices negotiated between buyers and sellers.  Existing-home sales remain 26.4 percent above the cyclical low last July. NAR

 

...until next week in The Week in Review

       Tina

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