news-record.com

NEWS

Greensboro home sales down in January

Article
Comments (3)

Wednesday, February 24, 2010

(Updated 3:20 pm)

Staff Reports

GREENSBORO — Existing single-family home sales in Greensboro declined in January 2010 from December and the same month last year, according to data prepared by Triad MLS Inc. for the Greensboro Regional Realtors Association.

A total of 264 units were sold in Greensboro in January, down from 398 units sold in December 2009, according to a news release. A total of 286 homes were sold in January 2009.

The average sales price of an existing single-family home was down last month to $137,124 from $184,418 in December. The average sale price in January 2009 was $146,123.

The total dollar volume for all units in January was $36,201,000, down from $73,399,000 in December. The January 2009 total dollar volume was $41,791,231.

"It’s clear from our numbers that the bad weather in January took its toll on home sales,” GRRA President Bill Guill stated in a news release. “Buyers stayed indoors and transactions were delayed because of a string of snowy and icy days. We’re confident that the coming months will see a marked improvement as buyers scramble to get their new homes under contract prior to the April 30 deadline for the federal Home Buyer Tax Credit.”

Advertisement | Advertise with Us

Comments

View Comments

This article has been closed to new comments. Comments are generally closed after 14 days. However, comments may be closed earlier at the discretion of the News & Record.

Inappropriate content? Please report abuse.

TeamShubert

February 24, 2010 - 3:38 pm EST

Now is the best time to buy a home. 3 BIG dates that are key to purchasing now. 1) as of March 31st the government is going to stop buying mortgage backed securities which means that rates have the potential to go up. 2.) April 5th is when the FHA up front mortgage insurance goes up 1/2 point from 1.75% to 2.25% and seller paid closing costs allowed goes from 6% to 3% which makes FHA loans cost more. 3) April 30th the home buyer tax credit goes away. Call 209-4330 for more information

dmm219

February 24, 2010 - 7:08 pm EST

Realtor spam alert, these folks really have no shame...

Realtors and most buyers must have failed 8th grade math.

1. Interest rates going up is a GOOD THING for buyers. It drives PRINCIPLES down. The ideal time to buy a house is when rates start descending from their maximum while prices are at their lowest. It will have the lowest downpayment and the lowest cost of interest for the life of the loan as the principle is what drives true cost of ownership, not interest rates as much.

2. Quick! Buy a house you can't really afford now! Before the rise in FHA standards saves you from future foreclosures on April 5th!

3. With sales tanking in January (the month realtors were all touting that sales would be high BECAUSE of the tax credit), do you really think .gov will let the credit expire. Much like mortgage interest tax deductions (originally meant to be temporary), my grand kids will still be getting a first time buyer tax credit. At the end of the day, the tax credit just allows the seller to raise their price by 8k, it HURTS the buyer.

Don't count on a realtor to ever give you the facts though. Learn to do the math yourself...

rmacz

February 24, 2010 - 8:21 pm EST

Great point! Also in January, building permits were up 2.8%. The Obama media was leading us to believe that we were coming off the bottom of the Bush bubble (code word for the Democrat cover up).
I think contractors are borrowing new money for permits, to chase old loans. It's an old trick.