RTP August Home Sales
Here’s how the numbers shape up August 2016 vs. August 2017 in the Triangle Real Estate Market:
August 2016 closed sales
3680 closed sales, 40 average days on market, average list price $276,369 average sale price $272,173
August 2017 closed sales
3727 closed sales, 39 average days on market, average list price $294,663 average sale price $291,611
Broader Economic Tid Bits:
According to Bloomberg and citing Bank of America Merrill Lynch research 8/25/2017:
US equity funds suffered their longest streak of capital outflows in 13 years as growing signs of political deadlock in Washington cast doubt on a rally that has taken the S&P 500 Index to record highs.
Investors pulled $2.6 billion from US stock funds in a 10th consecutive week of outflows; total outflow since late June 2017 has been $30 billion.
According to the FRED (Federal Reserve Economic Data) from Federal Reserve Bank of St. Louis in July 2017 nationwide there was a 5.8 month supply of housing. In retrospect in January 2009 there was a 12.9 month housing supply. Locally in Raleigh/Durham and according to TMLS (Triangle Multiple Listing) there is currently a 3 month supply of housing stock.