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Triangle home sales up 11 percent in November

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Triangle home sales recent run of double-digit increases continued in November, with sales increasing 11 percent over the same period a year ago.

There were 1,169 homes sold in Durham, Johnston, Orange and Wake counties in November, Triangle Multiple Listing Services data show.

Pending sales were up 8 percent while showings declined 3 percent.

The year-over-year comparisons have been strong in recent months in large part because of the influence of the federal homebuyer tax credits. The credits expired at the end of June last year, but sales were depressed for about six months afterward.

The market also continues to benefit from reduced supply.

The number of homes listed for sale in November was 19 percent lower than the same period a year ago.

Still, a lack of able buyers in the market continues to put downward pressure on prices. The average price of the homes that sold in November was $228,600, down 11 percent from a year ago.

Cash buyers also continue to make up a sizable percentage of the closings that are taking place. There were 217 cash closings in November, up 13 percent from a year ago.

 

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Bingo

Can you ever trust anyone on commission? I mean...If your paycheck was determined by how much or how many you sold could you always bring yourself to be honest with that fresh faced & gulible couple so excited about making a 30 year/$200k mistake? 95% of the time the answer is a resounding "NO".

The best policy is to educate your family and children when they are young so that when the time comes their eyes are wide open to the decisions they are about to make and they know debt is a ball & chain.

Lies

The National Association of Realtors are lying scum.  If you beleive one thing from them you are a fool who deserves the embarassment they cause you. 

Of course they are, so are the local realtors

Let's see how they like hearing about the new assignment plan this afternoon. Bet they won't like it one bit. They won't be able to assure anyone wanting to move here what school their kids will attend. Not that they would ever bring up the issue anyway.

The new plan will help us manage growth from here on. No one in their right minds would move here with such uncertainty and realtors will continue to play stupid to the issues.

This week, the National

This week, the National Association of Realtors had to admit that for the last 4 years, home sales numbers were a giant fraud and lie and they will be revised downward greatly.

Why should we believe these numbers?

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About the blogger

Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or e-mail him.
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