Triangle home sales up for month of May
To view our videos, you need to
install Adobe Flash 9 or above. Install now.
Then come back here and refresh the page.
RALEIGH--Matt and Stacy Cotton are looking to move into a new home later this year. Eager to close on the house as soon as possible, they spent part of their Sunday filling out paperwork.
"This is the one that we really like a lot and we both agree on that so we're really happy about it and want to get the process going," said Matt Cotton.
"In the real estate if you are successful you are here on the weekends," said real estate agent Beau Bourquin.
If recent numbers are any indication, many realtors in the triangle are spending weekends in the office.
"We've had 6.6% more buyers can actually afford the medium priced home so in the triangle the market is very robust again," said Jim Allen, President of the Jim Allen Group.
For the month of May, closed sales were up 26 percent in the triangle compared to last year. Chatham County saw a 28% increase, Wake County 29%, and Durham County saw the most growth with a 38% increase.
Realtors say it is a buyer's market and there are several factors that are contributing to an increase in home sales in the triangle.
"Qualified buyers, homes that are available for sale, interest rates and money that's available. So we're starting to see that wheel happen again," said Bourquin.
For the Cottons, in addition to buying a house, they've also gotten married and are starting a family all within the last year.
"The baby's not here yet. When she arrives that will be number one but right now it will be the house buying process," said Cotton.
A process they are entering at the right time as many 'for sale' signs are being replaced with 'sold' signs across the triangle.