The latest data from the US Bureau of Labor Statistics indicated that Raliegh and the Triangle had the highest job growth rate in the nations for the 12 month period of February 2007-2008.
This is in part why the real estate appreciation rate in our area has remained steady. Days on market have increased a bit, inventory has increased a bit in mid-to-low priced homes, and inventory of upper end homes has increased substantially.
We don't exactly have a full fledged buyers market, however, sellers are willing to negotiate on repairs, assist with closing costs or consider moving some on price. Just a year or so ago, sellers were not surprised to have multiple offers, often over asking price, so they weren't giving much away.
So here we are in a win-win situation for buyers and sellers.
For buyers: Interest rates are low, there is a good range of properties to choose from, the pressure to make a quick decision before someone else gets THE house has almost disappeared and sellers are preparing their homes for market better.
For sellers: We have both local and relocating buyers in our market. Lenders and underwriters feel more comfortable than in some other areas of the country providing mortgages here because of job growth, continued appreciation and low foreclosure rates.
Now is a great time to buy or sell a home.
