AGENT MLS HOME FINDER

The Durham real estate market is about average for the Triangle region, a generally mixed area with indicators ranging from positive to negative. This general sentiment is perfectly expressed by a September 17, 2009 article in the Triangle Business Journal, which reported that indicators of the health of the real estate market were generally mixed for the Durham area. According to the piece, written by Amanda Jones Hoyle, found that “The number of home sales in the Triangle dipped again in August, with 11 percent fewer homes sold than in to the same month last year.  The 1,957 homes sold in August also represented a 16 percent drop from the number of homes sold in July, according to the latest data from Triangle Multiple Listing Service. The volume of homes sold was worth $450.9 million, which was down by 17 percent from the year prior.”

The market in the Triangle area, including real estate in Durham, seems to have been buoyed recently by first time buyers. According to a September 29, 2009 article in the News Observer, the component of the federal stimulus that addresses home purchases has been helpful for improving Durham home sales. The article, written by David Bracken, said that “The Triangle housing market is getting a much-needed boost as first-time homebuyers rush to take advantage of an $8,000 federal tax credit that is set to expire Dec. 1. The incentive is helping to slow the decline in home sales in the Triangle. In August, sales were down 1 percent over the same period last year, the smallest year-over-year decline in any month since late 2007.”

According to another News Observer article from the year 2009, “The Triangle housing market continues to stabilize, The News & Observer’s David Bracken reports. The number of homes sold in August fell only slightly from the same month last year. There were 1,724 existing homes sold during August in Durham, Johnston, Orange, and Wake counties, Triangle Multiple Listing Services data show. That’s down about 1 percent from the same period a year ago, the smallest year-over-year decline in any month since late 2007.” Overall, this is a positive sign for Durham homes for sale.