Spring Fling? Homes Sell Faster!

Real Estate Agents in the Cary, Apex, Raleigh area of North Carolina saw a boom in home buyer traffic as they officially enter their 'busy' season. Properties sold at a median of 55 days due to low inventories of homes for sale, according to the latest REALTORS® Confidence Index. The index is based on a survey of more than 3,800 REALTORS® about their transactions in March.

Short sales were on the market the longest, for 112 days in March compared to 98 days in February, according to the report. Foreclosed homes were on the market for 55 days.

About 37 percent of real estate professionals report that properties sold in March had been on the market for less than a month. 

Buyer traffic was also up in March, although demand was not as fast and furious as it was a year ago, according to the report.

Still, REALTOR® confidence about current market conditions soared in March, reflecting a typical seasonal increase. Their confidence about the next six months also improved but is lower than what it was a year ago, according to the report. The biggest concerns among real estate agents remain tight inventory, credit conditions, and uncertainty about flood insurance regulation, according to the REALTORS® Confidence Index.

Real estate agents continue to be confident that prices will increase over the next 12 months but at a “modest pace.” They expect prices to increase at a median of about 4 percent over the next 12 months. Due to the high home buyer demand and low inventory, home prices are starting to go up while mortgage rates are very low. 

If you are interested in selling your home or are looking for your dream home, Keller Williams Realty Cary, opened in 2003 has 174 real estate agents. 

If you are interested in a career in Real Estate, call Team Leader, Bill Middleton at 919-882-3229 or visit our website today!