The greater Raleigh area real estate market continues to show positive signs. May 2012 reports 17 consecutive months of a reduction in our Triangle MLS inventory of homes for sale. Homes sold are also up 22% from the same time last year. This is great news!
In addition there are 140 price and location brackets showing a normal supply of housing. 
- Absorption rates in those brackets are 5 months. A normal market is 4 to 6 months.
- 46 brackets have an over-supply of housing and in some sub markets such as Cary, North Raleigh under $300,000 there is a housing shortage.
Expect multiple offers and fast sales in these areas and price points. First time home buyers, investors have been flooding the market this year and for good reasons.
Raleigh Area Home Sellers
Remember, even though the inventory of homes for sale is decreasing in the greater Raleigh area we still have too many homes for sale to meet the current demand for housing in almost every Triangle price point and location. So to get a sold sign in your yard the beauty contest and pricing war is still very much in effect for you. We have improvement in the greater Raleigh real estate market but, it is still a total buyers market for many reasons. This means it is important to shine up your house and try to never turn down a showing. You may lose your one and only opportunity if you do.
Another important consideration to note is the 22% increase in sales were caused by a lot of investors buying foreclosures. In the state of NC foreclosures are up 47%. My next two shows on NBC My Carolina Today are going to be very buyer focused. For fun I will blog some of the numbers I am going to use to show just how good this buyers market really is. I bet you will be shocked when you see home buying today from a buyer perspective. It is true that homes are on sale but, did you know they are half the price? It is a great time to buy a home in North Carolina, Wake County, Research Triangle Park, Cary, Raleigh, Durham, Chapel Hill. Are you getting the sense it is a great time everywhere in the Carolinas? I hope so because it truly is and wonderful opportunity for home buyers
If you would like more information about real estate market updates feel free to visit our Raleigh Real Estate Information youtube channel: www.youtube.com/raleighrealestate