Posts Tagged ‘economy’

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



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Here’s how the numbers shape up December 2015 vs. December  2016 in the Triangle Real Estate Market:

December 2015 closed sales

2838 closed sales, 61 average days on market, average list price $268,745  average sale price $263,923

December 2016 closed sales

2860 closed sales, 50 average days on market, average list price $279,959 average sale price $275,777

Check out all our listings at

Team Michael Sullivan

Buying, selling, leasing real estate—Call us!  We wish you very happy new year.

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After a robust start to 2013 there has been some cooling in the market. Lawrence Yun, chief economist with the National Association of Realtors sums it up best with an expectation that interest rates will close in on 5% by mid-2014.

There are 17.8 renter households with sufficient income to buy a $177,000 home at a 3.5% interest rate compared to 14.9 million households at a 5% interest rate.

By the numbers, June 2012 vs. June 2013 closed sales Durham County NC

398 closed properties
85 days on market on average
Average list price $276,698
Average sale price $209,385


472 closed properties
64 days on market on average
Average list price $217,864
Average sale price $213,125

Please remember me if you come across someone who wants to buy or sell real estate.

919-608-2372 mobile/text or

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The Herald-Sun and Tulia are, in my opinion attempting to put a shinny gloss on the Durham/Raleigh real estate market.  I am not convinced that this is the case.

This piggy backs with my posting from yesterday… not.  What Trulia and Rick Sharga miss is the fact that our market does not exist in a world on its own.  Granted Durham/Raleigh is weathering the storm better than the nation, which should NOT be painted as a rosy real estate picture, but rather should underscore how terrible the real estate market is right now in the United States .

The Herald-Sun – 2011 looks good for Triangle housing.

Trulia’s data I believe is skewed too, they are nearly 3% off of the National Association of Realtors with respect to closed home prices for Q3, 2010; this should cause one to pause and consider how easy it is for statisticians to cook the books and manipulate data.  Similarly, since Trulia relies on automated data feeds, I am indeed skeptical of their numbers.

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