Well, the first half of the year is over. Can you believe how quickly this year is moving, it’s hard to believe that it’s already August?? For real estate in the Triad, the spring season proved to be an incredible few months. The tax credits really worked and as a result, sales in the region abounded.
The million dollar question is where do we go from here? Here are some thoughts on where we are now and where we are going:
- Sales for the first half were overall strong. The tax credit shifted our median price down between 8 to 10%, which means that a large number of buyers were purchasing homes at lower price points. For the Triad Region, the median price was $135,000. Now that the tax credit has ended, Demand for Entry Level Houses will remain flat for the 2nd half of the year.
- All those folks who sold their homes this spring are looking and we expect Demand for Move-up Homes to remain strong for the next few months. In fact, the numbers locally for May and June prove that as sales in the $250,000 to $750,000 range picked up! So Demand for Upper-End Homes should slowly gain strength.