How’s the market?
At the end of June (“halftime,” as we call it around the offices), we pore through the sales data, look back at our goals, and check how we’ve done on our predictions for the first half of the year. As we launch into the second half of the year, we know that we exceeded our goals despite the external circumstances that impacted our local markets.
We present you with our 2020 Raleigh-Durham-Chapel Hill Mid Year Market Report.
Compared to the same period in 2019, available homes for sale in the Triangle region dropped 9% while the sales activity year over year remained relatively unchanged. With the drop in home inventory, buyers often find themselves in “bidding wars” for good homes. Overall, these market conditions have led to a 4.3% uptick in home prices.
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