|
Welcome to Articles4today.com
Blog!
Articles » Finance » Real Estate >> View Article
|
 |
|
 |
| 2011 Qualifies As a Promising Year for the Real Estate Market of North Carolina |
By:
Adam Sanderson |
|
The selling price of the houses here on an average was $193,910 in December, 2010 while it was $211,705 in December, 2009. The selling price of a housing unit was $215,239 on an average in November, 2010. Thus there was a drop of 8.4 percent in comparison to December, 2009 and a decline of 10 percent compared to November, 2010. One of the reasons of the falling price of houses in North Carolina is the large number of bank foreclosures that took place there.
There were 1,466 pending sales contracts in December, 2009 which rose to become 1,479 in December, 2010. Thus, foreclosure housesthere was an increase of 0.9 percent. If one compares with November, 2010, an increase of 2.1 percent will be noted for pending contracts. This upsurge has been influenced by deals of foreclosed real estates. For Charlotte this increase is definitely good news in the background of declining prices.
Starting from Charlotte, the incidence of rise in sales of existing housing units has spread over to other parts of North Carolina as well. The November report said that buyers have been buying foreclosed properties and other residential properties 5.6 percent more than they have done in the month of November, 2009. The combination of an increase in sales of existing properties all around the nation, and the rise in total sales of all housing units in some parts of North Carolina in the month of December acted to keep the housing market buoyant.
People who are involved in foreclosure business and home buying investments will be more willing to buy housing properties in the year 2011 even though it will take almost all year for the market to disengage itself from foreclosure problems.
Betterment in the job market of the area is one of the factors working behind an increase in sales.
Original Post: http://www.foreclosurewarehouse.com/content/foreclosures/2011-real-estate-north-carolina/ |
|
|
 |
 |
 |
 |
|
|
