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News We Follow: Raise The Roof

Posted in: news we follow

From an article in Triad Business Journal, "Raise the Roof":

As the housing market heats up around the country, the Triad Business Journal took a look a what the industry looks like in our part of the world. The 2 page article discusses changes since the recession hit in 2007, effects on the rental market, and challenges currently being faced. It is a great article that outlines the fact that our housing market has not rebounded at the same pace as some areas in the country but it has been seeing a steady increase. 

You'll have to subscribe to read the entire story here, but for those in our industry it is well worth it. Here are some things we found particularly interesting:

  • 'The Triad's housing market continues its post-recession rebound and this year is so far enjoying its best year in nearly seven years.'
  • "We're not that fast-paced market that sees the highs and lows like Texas and Florida. Our recovery has been slower and steadier. It's very promising but we're very much in correction mode." - Karen Bickham-Jobe, Realtor/broker at Tyler, Redhead & McAlister Real Estate
  • 'The National Association of Realtors reported last month that first-time home-buyers accounted for 30 percent of national sales in May, up from 30 percent in April and 27 percent year-over-year'
  • "We're not ramping up like 2006-2007. We're not in a bubble. This is nice, slow, normal growth" - Tony Jarrett, regional vice president in the Triad for Allen Tate Realtors
  • 'Sellers who have no renovated in the last 15 years are sitting ducks because buyers want renovated homes.'

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