Real Estate Sales Surging in the Triangle!

[Beermat]

Quote:
Originally Posted by Charlton Dude
I have noticed a sales surge all of a sudden in my development in Cary. They are going under contract at an incredible pace, as compared to the last several months. Has anyone else noticed this in any other development or is this an isolated case to one development? I am wondering if the low interest rates and the Spring interest are combining for good sales around the Triangle?

Originally Posted by Beermat

According to the N&O Triangle Home Sales fell 45% in January - what statistics have you to support 'your surge' statement? how many homes have closed since 1st January? how many are under contract and not yet closed? do you even have access to such information? or is it wishful thinking?

Triangle home sales fell 45 percent in January - Business - News & Observer (http://www.newsobserver.com/business/story/1409013.html - broken link)

Sales of Triangle homes hit a 10-year low in January as prospective buyers — hopeful for bigger price drops, or fearful of unemployment — let caution trump low mortgage rates.

There were 729 homes sold in Durham, Johnston, Orange and Wake counties last month — a 45 percent drop from the same month in 2008, according to Triangle Multiple Listing Service data. It was the biggest year-over-year drop since the housing bust spread to the Triangle.

Seems that Charlton Dude missed this exchange as usually he has all the answers that we need so here is a prompt for him to educate us all

[Charlton Dude]

Originally Posted by Beermat

According to the N&O Triangle Home Sales fell 45% in January - what statistics have you to support 'your surge' statement? how many homes have closed since 1st January? how many are under contract and not yet closed? do you even have access to such information? or is it wishful thinking?

First off, thank you for the bump prompt.

Second, I stated that "my" neighborhood is having a surge in sales over the pace of the last several months. I "asked" for people's input on their neighborhoods and asked if this was just a seasonal & rate effect or something different. So I am not sure what stats you would like to support my statement, when I was asking questions.

[James Taylor]

Originally Posted by Charlton Dude

First off, thank you for the bump prompt.

Second, I stated that "my" neighborhood is having a surge in sales over the pace of the last several months. I "asked" for people's input on their neighborhoods and asked if this was just a seasonal & rate effect or something different. So I am not sure what stats you would like to support my statement, when I was asking questions.

I suspect you get extremely bored living in Cary, but wouldn't dare admit it publicly.

[just_sayin']

Originally Posted by Charlton Dude

I am not making any claims. I am asking a question, based off of something I noticed on my development.



Ummmm....last I checked my development is "in the Triangle".

Once again....your antagonizing title of the thread doesn't match up with the "question" you have. I see no question mark in the title...it reads

"Real Estate Sales Surging in the Triangle"

It doesn't say "Big uptake in sales in my neighborhood"

or "Do you think real estate is picking back up in the triangle?"

it says...with an exclamation point...

"Real Estate Sales Surging in the Triangle!"

Just....stop.

[KCfromNC]

We can answer the OP's question. From the Feb 2009 Triangle MLS Stats : Wake County houses under contract - 662. Down 15% from Jan 2009, and 48% from the same month a year ago. The numbers are usually revised a bit upwards as more data rolls in, but it's going to take a pretty big revision to turn a 15% month over month drop into a "Surge!!!!1!"

I guess areas where builders are dropping prices or offering large incentives to buyers would be the ones most likely to see better sales, but we'll have to wait until the sales close (assuming they do) before knowing for sure.