Apr 23, 2014
Great news for anyone who is currently thinking about listing their home in Wake County.
According to a recent AP news report, home prices are on the rise in the United States, even though sales were actually a little weaker when compared to a year ago.
If you’re getting ready to sell your home, you’ll surely want to continue reading to learn more about these recent housing market trends.
US and Wake County Real Estate for Sale
According to the recent news article I read, home prices increased in February from a year earlier, most likely because of a smaller inventory that drove up prices.
Here’s what else the recent article I was reading showed about the current state of the national housing market:
- Home prices for existing homes increased 12.2 percent in February from a year ago.
- This was slightly up from January’s year-over-year increase of 12 percent.
- When you look at a month-to-month basis, home prices increased 0.8 percent from January to February, although that is not seasonally adjusted.
- Still, because of bad winter weather, rising prices and higher mortgage rates, the total number of home sales actually fell to their lowest level nationally in 19 months during the month of February.
- Home sales fell 0.4 percent to a seasonally adjusted rate of 4.6 million between January and February.
- Currently the national housing market has a 5.2 month housing inventory, which is below the six-month supply that’s typical for a healthy market.
- Nationwide, average home prices are about 16.9 percent below their peak in April 2006, which was the height of the housing bubble.
- A lot of these trends are also being reflected right here on the Wake County real estate market.
- Meanwhile, economists are expecting real estate activity to pick up during the spring home buying season, although likely at a slower rate than last year.
- And here’s another positive sign for the housing market: developers applied for the most building permits in four months.
We Can Help You Sell Your Wake County Home!
The most recent data suggests that there is some great success to be found on the Wake County real estate market if you’re a seller, but it’s important to have a sound marketing plan in place before you enter the market so you can make sure to attract the right home buyers.
So contact me, Rachel Kendall, today to discuss listing your property on the market. My team of Wake County REALTORS® and I would be happy to assist you!
Until next time,
Rachel