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Here’s how the numbers shape up September 2016 vs. September 2017 in the Triangle Real Estate Market:

September 2016 closed sales

3214 closed sales, 44 average days on market, average list price $269,014 average sale price $264,956

September 2017 closed sales 3096 closed sales, 41 average days on market, average list price $284,933 average sale price $281,718

Broader Economic Tid Bits:

According to Zillow’s chief economist Zvenja Gudell there are fewer homes on the market because baby boomers are staying put in the home sweet home, rather than downsizing.

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Here’s how the numbers shape up August 2016 vs. August 2017 in the Triangle Real Estate Market:

August 2016 closed sales

3680 closed sales, 40 average days on market, average list price $276,369 average sale price $272,173

August 2017 closed sales

3727 closed sales, 39 average days on market, average list price $294,663 average sale price $291,611

Broader Economic Tid Bits:

According to Bloomberg and citing Bank of America Merrill Lynch research 8/25/2017:

US equity funds suffered their longest streak of capital outflows in 13 years as growing signs of political deadlock in Washington cast doubt on a rally that has taken the S&P 500 Index to record highs.

Investors pulled $2.6 billion from US stock funds in a 10th consecutive week of outflows; total outflow since late June 2017 has been $30 billion.

According to the FRED (Federal Reserve Economic Data) from Federal Reserve Bank of St. Louis in July 2017 nationwide there was a 5.8 month supply of housing. In retrospect in January 2009 there was a 12.9 month housing supply. Locally in Raleigh/Durham and according to TMLS (Triangle Multiple Listing) there is currently a 3 month supply of housing stock.

Regardless of politics, it’s time to pay closer attention to the financial markets.  Some market indicators are demonstrating that we might be starting to slide into an economic slow down and the question that begs is; will it be a shallow slow down  or a deep one?

According to Bloomberg and citing a Bank of America Merrill Lynch research report; ”

U.S. equity funds suffered their longest streak of outflows in 13 years as growing signs of political deadlock in Washington cast doubt on a rally that has taken the S&P 500 Index to record highs.

Investors pulled $2.6 billion from U.S. stock funds in a 10th consecutive week of outflows, Bank of America Merrill Lynch said in a research report citing EPFR Global data. That takes total outflows since late June to $30 billion, according to the report, which covered the week to Aug. 23.

Additionally and according to CNBC,

US housing starts total 1.155M in July vs 1.22M starts expected

  • U.S. home building unexpectedly fell in July as the construction of single- and multi-family homes declined.
  • The data could temper expectations of a rebound in housing market activity in the third quarter.
  • Housing starts declined 4.8 percent to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said.

Published 8:30 AM ET Wed, 16 Aug 2017  | Updated 9:00 AM ET Wed, 16 Aug 2017

 

 

Here’s how the numbers shape up July 2016 vs. July 2017 in the Triangle Real Estate Market:

 

July 2016 closed sales

3555 closed sales, 41 average days on market, average list price $282,586 average sale price $279,294

July 2017 closed sales 3510 closed sales, 38 average days on market, average list price $297,375 average sale price $294,289

July 2016 active listed homes** entire Triangle Multiple Listing market* 8429

July 2017 active listed homes** entire Triangle Multiple Listing market* 7895

**Home= Detached House, Townhouse, Condominium, Singlewide Trailer, Doublewide Trailer and Modular Home

*TMLS market- generally Virginia (N) to Fuquay Varina, NC (S) Burlington, NC (W) to Nash County Line, NC (E) This is not a firmly defined market area.

Here’s how the numbers shape up May 2016 vs. May 2017 in the Triangle Real Estate Market:

May 2016 closed sales

3776 closed sales, 48 average days on market, average list price $273,238 average sale price $270,513

May 2017 closed sales 3640 closed sales, 42 average days on market, average list price $295,707 average sale price $292,759

Total Active Listings all categories 7662

Sherbrooke2517 Sherbrooke Dr. Durham NC 27712

New on the market….1017 Lakeview Rd. Durham NC 27712

CPublication1

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