Article of the Week – Triangle Home Sales Jump 41%

Check out this recent article from the News & Observer:
As we read this article we had a few thoughts:
  • Part of the reason some people aren’t listing their home is because they aren’t back into positive gain, but also some have learned to live with less and don’t want to move up to a bigger house.  Additionally, if they get a 3% gain on their $150k house and buy a $300k house that also had 3%, the two gains don’t equal, so not everyone wants to get deeper in debt.
  • A lot of Metlife people will rent at first, especially if they have a home to sell, so we’re not sure the extent of the immediate impact that will have on the Triangle market.
  • There are a lot of investors in the market right now, but they are very selective about their buying.  The numbers have shot up in regards to lack of inventory, but they don’t really break down the pockets.  It’s really $130-200k homes that were built in the past 10 years; some older stuff is still struggling.