Raleigh home sales have increased this spring thanks to the tax credit. Raleigh posted a 37% increase in home sales over April of 2009, taking a big bite out of current housing numbers. Inventory of homes for sale dropped 3.5% and sellers received 97.1% of of original list price at sale.
Raleigh Home Sales for April 2010 (Click to enlarge)
Despite the great news, I expect sales to stay relatively flat for the rest of the year. I’m not the only one, either. According to an article in the Chicago Tribune:
“We’re likely to bounce around at the bottom for this year and next,” predicted Chris Huecksteadt of the Metrostudy housing research firm in Chicago. He said he expects “ups and downs” but no upward trend in prices.
That should come as no surprise, said Erik Hurst, an economist at the University of Chicago‘s Booth School of Business. Averaged over long periods that often encompass booms and busts, housing prices generally clock in about flat, he said.
Read Housing prices still going nowhere (http://www.chicagotribune.com/classified/realestate/ct-biz-0524-burns–20100524,0,1327878.story)
However, Raleigh has been rated high one so many lists that I’m actually tired of hearing about it. A simple Google search for Raleigh news turned up:
Raleigh in the News
If you are a buyer, Raleigh is on sale. If you want to sell you home and move up, then now is the time. You may not make as much as you want on the sale side, but you will more than make it up on the buy side. I would rather lose 5% on my home sale of $200,000 and save 5% on buying a home of $300,000.