Number's Don't Lie!

Many buyer's are first time homebuyers, a group that NEEDS to buy right now ($7500 tax credit, lots of choices, low interest rates)
· 98.83% of all mortgages in the US are current; foreclosures are up 64%
o 1 in 6 homeowners would be upside down if they HAD to cash out now but they don’t HAVE TO cash out
o The percentage growth in foreclosures is large because the overall number is small
· The Triangle has had 29 consecutive months of inventory growth but the pace has slowed to less than 10% growth the last 2 months
o 63% of all price points have an oversupply
o Overall MLS supply is 11 months
o In our 4 major counties (Wake, Durham , Orange , Johnston) our supply is 8 month; national average is 11 months
· Our average appreciation is 4%
o the national average is -4.8%
· Our MLS shows more listings with price drops
o our sellers are listening
· 2008 was the 6th best 3rd quarter on record for number of closings
· While we currently do not have net job growth in the region, we have added over 100,000 jobs in the last 5 years; we have a very resilient economy
o Projection is for 30% job growth between now and 2030
· Our job pipeline is good; the region had the biggest summer ever with over $1 Billion in new investment
· Raleigh is the second most educated city in USA
o Can you guess which city is #1?