Triangle Home Sales Start Soft For 2019
New figures show a slight softening of home sales in the Triangle. For January of this year, homes sales were down about six percent over the previous year.
When it came to home resales, sales slid eight-percent. Home resales reflect existing homes that simply traded hands.
Those numbers are pretty much in line with the rest of the nation. While home prices keep going up, sales are softening and even starting to decrease when compared to previous years.
Analysts have said slower sales are due to rising home prices and an increase in mortgage interest rates. They say that’s translated to fewer people jumping into the home buying process.
In reality though, mortgage interest rates have declined since late November for a 30-year fixed-rate mortgage. On the other hand, new home listings, pending sales and inventory are all said to be up by the double digits.