Issue 3, May/June 2009
HOMEOWNERSHIP
· Nationally, the median existing-home price increase for all housing types from February to March was 4.2 percent, much higher than the typical 1.8 percent seasonal increase between those two months.
· The National Association of Home Builders recently announced that half of all U.S. households (55 million to be exact) can now afford to buy the median priced $200,000 new home. That's up 45 percent in the past 24 months.
· Home-builder confidence was in the double digits in April for the first time in six months. First-time homebuyer activity has surged. In March, first-time homebuyers accounted for 53 percent of transactions.
· The average price of a home in March 2009 has increased approximately 20 percent when compared to March 2000.
FORECLOSURE FACTS
· While foreclosure filings rose 24 percent nationally, the number of foreclosures in North Carolina fell 42 percent in the first quarter from the same period last year.
· In the latest quarter, North Carolina ranked 36th in the nation for foreclosure filings. In March alone, foreclosure filings fell 40 percent when compared to the same period last year.
ECONOMY
· Six N.C. cities – Raleigh, Durham, Asheville, Wilmington, Winston-Salem and Charlotte – were among the top 20 "Best Metros" in the country for business and careers, according to Forbes.
· In a recent study from the National Low Income Housing Coalition, North Carolina ranked 21st in affordable housing.
· North Carolina recently was named the second best state in which to conduct business, according to Chief Executive magazine.
Source: North Carolina Association of Realtors®
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