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Is the Real Estate Market Going Up or Down?

by TeamForYOUrDreams

Which way is the real estate market going, up or down?  That depends on whose statistics you believe.  The Case Shiller index says the market has gone down in value for the last five months straight.  It is not surprising that the Case Shiller index is favored by the default servicing industry, those that see the glass half empty.  In other words, if you are selling in Raleigh, Cary or Morrisville, North Carolina it is a buyers market.   On the other hand, John Burns Real Estate Consulting says that their analysis is outdated.  That firm conducted its independent research in 97 markets across America and found that prices were rising in 90 of them.  From January to March, 2012, the real estate consulting firm says that the average price increased by 1.1%   They say that in the last month, prices are up in 93 of the 97 markets.  These folks see the glass half full.  In other words, if you are selling your home in Wake Forest, Garner or Holly Springs, North Carolina, it is a seller's market.

How do you explain the different conclusions?  They collect the data differently.  Case Shiller takes its information from closed sales.  Most sales take 30 to 60 days to close. Then, it takes 30 to 60 days to collect the data.  The John Burns Real Estate Consulting survey uses properties at the point when the sales contract is signed.  The consulting firm claims that their data indicates what is going on currently, while the other studies review past history.  The consulting firm says that the housing market recovery is under way, but it could turn at any moment, particularly if the media publicizes the Case Shiller index's pessimistic view of the market.

So, if you are selling in Raleigh, Cary or Knightdale, North Carolina, you want to believe the John Burns Real Estate Consulting survey.  If you are buying in Wake Forest, Garner or Holly Springs, North Carolina, you want to refer to the Case Shiller index to support your offer.  Who is right?  It depends on who you believe and whose method of collecting data is more reliable.

 

Posted By: Lisabeth Tunell

Triangle Transit ridership hits record…

 

Triangle Transit announced Monday that bus ridership in June 2008 hit an all time high, an increase of 30% over June 2007.  The escalating price of gasoline is partly responsible for the increase in riders, along with additional routes such as the Wake Forest Loop and Express. June marks the third consecutive month of increased ridership this year. April was at a 20.5% increase over last April, and May saw a 14.5% increase over the previous May.

This is when you know that the price of gas is hitting close to home….our pocketbooks. Also it is great to know that in a time of need the city responded with adding and revamping its transit system…just in time I might add.  

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Contact Information

Photo of Team For Your Dreams, Inc. Real Estate
Team For Your Dreams, Inc.
REMAX United
7721 Six Forks Road, Suite 110, Raleigh, NC 27615
Raleigh NC 27615
919-846-3272
919-812-5111
Fax: 310-347-4041