The Triangle real estate market “appears to be rolling along”
12/10/2007 by Aubrey Southwell
It’s official - the Triangle real estate market appears to be rolling along, as reported today in the Triangle Business Journal.
That’s according to the latest working profile developed by officials in the Mortgage Division of the Office of the North Carolina Commissioner of Banks. They reviewed data from a number of sources, including foreclosure figures compiled by the North Carolina Administrative Office of the Courts.
The North Carolina Association of Realtors reported a 20% decline in the sales of existing homes statewide in October, but a 2% advance in average prices. In the Triangle, new and existing home sales declined by 14% for the month, but the average price - $239,820 - advanced by 6% over October 2006. In the Triangle, Wake County home buyers were making the heftiest down payments. As of July, fewer than 10% of mortgage customers were allowed to put down less than 5% of the purchase price.
