Our Raleigh Real Estate Agents Take A Look at November 2013 Home Sales
It’s time to take a look at November home sales in 2013. With the housing market still in recovery, it’s certain that the housing market is only looking up. In a previous post our Raleigh real estate agents have given us a look at the 2014 home predictions, as well as the current housing market. To step back a couple of months, keep reading.
- Housing unit sales for the Southern US region was up 2.8 percent in November of 2013
- The average price of homes sold in November 2013 increased 2.6 percent across the country
- The South had the best results with the average price of homes sold increasing 7.0 percent
“November 2013 sales of new and existing homes confirmed anecdotal evidence of a slowing in year over year housing sales. Rising interest rates, sluggishness in employment growth and household incomes are having an impact. Also investor sales have backed off as prices are no longer at bottom basement levels," according to Steve Murray, editor of the REAL Trends Housing Market Report.
“As we stated last month we believe that unit sales are nearing a normal level given employment, the number of households, mortgage rates and household income and that other factors such as the Federal government shutdown or the rise in mortgage rates were not as important in the slowdown in year over year increases in housing sales,” he added. “We expect that year over year increases will continue to be flat as 2013 ends and we move into 2014. We do, however, expect sales prices to continue to recover due mainly to the tightness in inventories.”
The Roark Premier Team is dedicated to bringing you the most recent, useful information available to help keep you updated on the ever changing housing market recovery! We talk in detail about selling a home in Raleigh NC, but rarely do we talk about buying one.
It’s been asked, time and time again, over the past few months; “Is now a good time to buy or sell a home?" While it’s true that home buyers are in a good position for selling, it’s not always certain that home buyers are in a great spot. For more information regarding home buyers and whether or not it’s a great time to purchase a home, visit back with us on our next post. Our Raleigh real estate agents take a further look at why now might be the best time to buy a new home!