I have heard that 38.? % of statistics are made up. This morning I pulled the closed real estate totals for 10/06 and 10/07 to see the comparison. The surprise was that in October 06 there were 14521 real estate units closed and in October 07 there were 14181 real estate units closed. In the triad real estate market, homes rarely see a huge appreciation based solely on sales in the area. Most price increases of particular homes can be due to the owner doing upgrades and updating. There are the paint flippers (as I call them) who by merely staging, improving curb appeal and using stronger marketing have made a particular home give the appearance of appreciation when this is a smart investor maximizing the return on investment. Without being a statistician smith and trying to extrapolate any conclusion about the state of the real estate market, the NC triad Market is holding its own. Our area has seen a strong new construction market in the past few years and the new homes that were not listed on MLS are not shown and there may be somewhat of a skew. This may contribute some as the absorption rate cycle has helped in the holding steady of the closed real estate transactions. The NC Triad market is a diamond in the rough for out of state investors.
Visit www.RealEstateWorkHorse.com/ for information about the NC Triad Real Estate Market.