When you want to know if home prices are going up or down, does news media provide information you need?Â Not really.Â Their data is national in scope.
National real estate data does not reflect whatâ€™s happening in your local market.Â Thatâ€™s why this analysis of price trends is strictly local.
Another limit to real estate market data presented in the media revolves around fact that analysis either compares this month with last month or current month to same month last year.Â Our data provides:
> Full, two-year market trend.
> Local (Raleigh) information.
> Independent analysis of four local markets.
divided into four groups:
Red Line: Represents Most Expensive Homes
Green Line: Represents Upper Middle Segment of Market
Orange Line: Represents Lower Middle Segment of Market
Blue Line: Represents Least Expensive Homes
Home prices may vary up and down each month, but a month doesnâ€™t make a trend.Â Just note that prices are generally level during the last year.Â This may point to price trends having reached their bottom.Â
Real estate agents report theyâ€™re seeing more full-price offers and multiple offers on same property.Â This points toward market strength, but itâ€™s not a trend reflected in the Raleigh market as a whole.
Kathy Godin, Branch Manager & Award-Winning Loan Officer
Originally published: http://raleighmortgagegals.com
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