Despite what you are hearing in the media it is a great time to buy in the Triangle!

October 28th, 2008 10:41 AM

The media reports national statistics and of course bad news gets more attention! But the real news in the triangle is much brighter. Mortgage interest rates remain in a very comfortable range. Although increasing inventory is not a positive market indicator, to a buyer it means selection and with an experienced realtor you can find a great house and negotiate a great price. While some inventory is still over priced from a booming market 6-8 months ago, a buyer that is working with an experienced realtor will be able to navigate through this inventory to find their perfect home. The good stats: Currently there is an 8 months supply of homes for sale in the Triangle. Nationally it is 11 months. Closings between July-September 2008 were in the top 10 highest in history in the triangle, which means triangle homes are selling! Home price appreciation in the Triangle is currently +4%. The National rate is -4.5%!!

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