Drop in Home Sales But Still Up From 2011According to the latest reports, there were less homes sold in March however that number is still 5.2% higher than last year during the same time period. March 2012 saw less home sales than the month before, with a drop of 2.6%. But the sales for the first three months of 2012 were at the highest level since the past five years. The local Raleigh movers learned that the average home price was at $163,800 which is an increase of 2.5% from last year.
The real estate market is certainly improving, but at a very slow pace. There has been nine consecutive months of year-over-year increases. Thank to job growth, great home prices and an improved economy, things should continue to get better. Foreclosure and short sales, the local Raleigh moving specialists learned, have made up less of the overall home sales than the same time last year. Distressed homes made up 29% instead of February's 34% and 40% in March 2011. Of the March 2012 home sales, 18% were foreclosures which sold for about an average of 19% discount, and 11% were short sales, discounted an average 16%.
There were less first time home buyers, investors and all-cash sales. Sales to home buyers made up 33%in March, investors made up 21%. Inventory of homes nationwide fell 21.8% from last year around the same time. There are 2.37 million homes listed for sale throughout the U.S., compared with the 4.04 million listed back in 2007. At the current pace, the local Raleigh movers learned that it would take 6.3 months to sell all the homes on the market. Are you looking to buy a home?
Are you moving anytime soon? If so, call the local Raleigh moving specialists for a professional move at an affordable price. We'll quilt pad wrap your furniture and take care of every other detail concerning your move so you have a hassle-free moving day. All My Sons of Raleigh is part of All My Sons Moving and Storage which is backed by four generations of professional movers so you know you're in good hands.