The Triangle Market is starting to pick up with the Summer Season upon us. Really 2007 has been a great year overall so far. It was like a Light Switch turned on Jan1, 2007. It has been fairly Strong overall this year, but there has certainly been a pickup in Showings and Contracts starting in April. This is a good sign for Sellers as the Summer Market is upon us. May Through August is typically the hottest time of the year for the Triangle. Great Weather, School is out in some places, Out of Towners taking Vacations here, Familys growing, and time to move up or buy the first house are all contributers to this hot market time of year.
Useful information: (Wake County - Raleigh and Cary inclusive)
1Q 2007 - Homes Closed: 4326
Current Homes Active: 6971
Currently in Wake County there are "4.8" months worth of homes on the market. This is called the absorbtion rate of home on the market. How fast will the supply of homes be absorbed into the market. We are still in a Sellers Market (anything less than 6 months). A Buyers market is anything more than 6 months.
Hope this helps out in understanding the Triangle and Wake County market place
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