Triangle Home Sales Rise 8%

“Triangle Home Sales Rise 8% in January Despite Lack of Inventory” — headlined by the NewsObserver

“The number of homes listed in January, 2,345, was the lowest number for a January in seven years.

Inventory levels continue to fall even as Triangle home prices rise, and the time it takes to sell a home shortens.

The average price of the homes that sold in January was $265,900, up 9 percent from the same period last year and 21 percent higher than four years ago.

The average days on the market for the homes that sold during the month was 59, down from 68 days during January 2015.

The Triangle market has now recorded 21 consecutive months of year-over-year sales growth.

Despite the strong market, many sellers continue to pay concessions. Concessions were paid on 70 percent of the closings in January. The percentage of all-cash closings decreased from 26 percent to 16 percent.” as reported by the NewsObserver.

http://www.newsobserver.com/news/business/article59736976.html