Friday, February 23, 2024 / by Robert Hunt
January 2024 Durham Market Update
Take a look at the most recent market stats here!!
Exciting updates in the housing market! While existing-home sales saw a slight dip, pending sales surged, indicating a promising trend for homebuyers. With mortgage rates on the decline and NAR forecasting a significant increase in sales this year, now is the time to seize.
January Summary:
U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.
New Listings in the Triangle Region increased 17.2 percent to 3,507. Under Contract Sales homes decreased 0.4 percent . Inventory decreased 25.9 percent to ...
Exciting updates in the housing market! While existing-home sales saw a slight dip, pending sales surged, indicating a promising trend for homebuyers. With mortgage rates on the decline and NAR forecasting a significant increase in sales this year, now is the time to seize.
January Summary:
U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.
New Listings in the Triangle Region increased 17.2 percent to 3,507. Under Contract Sales homes decreased 0.4 percent . Inventory decreased 25.9 percent to ...