Is This a Good Time to Buy a Home in Greensboro?

Is This a Good Time to Buy a Home in Greensboro?

Here are the Greensboro, NC city statistics according to Money Magazine.

Looks like we’re predicted to hit bottom at the end of 2010. Even so, our drop from our peak in the first quarter of 2009 will only be about 3% total. We live in a great area of the country!

Population:
(2006)
685,378
Median family income:
(2008)
$56,100
Median home price:
(2009)
$132,000
Affordability index:
(Median home price/family income 2009)
2.4
Prices peaked in: 2009:Q1
Total climb during the boom:
(2000 to peak)
29.1%
Total decline so far:
(Peak through 2009)
-1.2%
One-year change:
(Q4 2008 to Q4 2009)
-0.2%
Additional price change to bottom: -2.0%
When we’ll hit bottom: 2010:Q4

*(Q1 2010 – Q1 2011)

† Data is for Greensboro-High Point, NC Metropolitan Statistical Area

Sources: Fiserv and Moody’s Economy.com

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2 Comments

  1. Thank you for that perspective! Yes, American’s are consumers. We can’t spend fast enough. This is the only country that doesn’t teach saving and our banking system doesn’t encourage it, as you know. If we got the 6-8% you do to keep money in the bank, we would!

  2. How fantastic. The median house price is less than 3 times the average income. In Sydney, it’s 10 times. Which begs the question, why are American’s losing their houses when Aussies aren’t. Is there something different in the way people look at money, debt and capital?

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