Durham Housing shop Stats Are looking Grim

Homes For Rent In Durham Nc - Durham Housing shop Stats Are looking Grim

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Durham, North Carolina is one city in Nc that has been affected by the housing market emergency that is a trend affecting major cities, as well as, smaller cities across the country. The cheaper is honestly sluggish and there seems to be no end in sight. Homeowners that want to put their house on the market through a real estate agent might be likely to change their minds after they read what the Durham housing market beholds.

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Homes For Rent In Durham Nc

Home sales are down so far this year from the middle of 2008 from over one thousand homes sold per month in the middle of last to colse to seven hundred and fifty sold for the month of February. That decrease in sales shows that whether buyers' don't have the funding because the big lenders are sinking and tightening up their lending criteria or buyers are falling out of the market due to huge job loss.

Homeowners need to know that although home sales are down that is only part of the problem, the other question is that the sales price for homes sold in Durham are down as well. The numbers show that home values in the area are low as they have been since the real estate boom in 2001. The midpoint sales price for the month of February is colse to 4,000 right in line with 2001 and the middle of 2008 shows the midpoint sales price was colse to 4,000. Less than one year later home values have dropped ,000. These numbers are from sales of real estate agents and brokers.

Selling a home through a real estate agent in Durham according to the numbers is not such a good idea. Not only have home values dropped by over the past five years a 3 bedroom home is going for ,000 less than five years ago, from 5,000 then to 5,000 between November and January.

Homeowners that need to sell their house fast might want to try other options that may be available instead of selling their house through a real estate agent that isn't going to get their house sold fast for the right price. In this current market a homeowners that needs a fast sale might not get what they are seeing for so they might want to come to be creative to at least get the burden of their house off their hands.

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