Good news Greensboro! We’re on an up-swing!
We all know that Greensboro never had the housing bubble so we, fortunately, never had the bust. Even so, our sales were way up for March!
According to the Triad Biz Journal and the Greensboro News and Record, sales of existing homes in Greensboro rose 25 percent. 447 homes were sold in March, up from 357 in March 2009.
Home prices fell slightly, however. The average price of a home was $144,471 in March, (which I think is still fabulous!) down 2 percent from $147,878 a year earlier. This information is from data prepared by Triad MLS Inc. for the Greensboro Regional Realtors Association.
A lot of our increase is, no doubt, due to the home buyer tax credit that expires the end of this month. Those in the real estate business are expecting a dip in home sales in May and June when the credit is no longer available. May and June are historically good sales months, but a lot of us believe that the tax credit has encouraged people who would have bought during those months to buy sooner.
The continued good news is that interest rates remain low and housing prices are still down. It is still a fantastic time to buy and our triad population continues to grow so values should hold and even increase over the next 5 years. North Carolina was number 3 for population growth last year.
Why doesn’t everyone want to live in the Triad? I’m so glad I live (and invest) here.
