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Local home sales improving

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Wednesday, January 11, 2012

(Updated 10:41 am)

By Donald W. Patterson
Staff Writer

GREENSBORO — Sales of existing, single-family houses increased in the fourth quarter of 2011, but the average price of those dwellings declined.

A report released today by the Greensboro Regional Realtors Association said sales jumped 12.2 percent compared to the last three months of 2010.

Over the same period, however, prices declined 5.1 percent.

The report said the average price of an existing home in the area was $141,828.

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madisonman

January 11, 2012 - 10:58 am EST

This article lacks some specifics: what counties/cities were in the report? what were the number of houses sold for 2010? for 2011? What about how long houses were on the market until sold? Maybe we could have some useful info next time we get an article like this. Thx.

Bosco

January 11, 2012 - 11:19 am EST

Prices down, sales up. Duh, econ 101

rooster8786

January 11, 2012 - 11:26 am EST

Sales are up but prices are down. I think the sellers would disagree with your headline that sales are improving...

Alf42

January 11, 2012 - 1:02 pm EST

Until we get Obozo out of office don't expect much to change. Until the market is allowed to bottom out it will remain stagnant. Confidence has also been reduced due to historic debt and uncertainty due to Barry O's policies.

HotRodLincoln

January 11, 2012 - 1:20 pm EST

Don't know much about the construction boon of the 90's do you? Bush deregulated the bank's for his cronies and they began giving loans to people that couldn't pay it back on houses that were over valued. Worked real well for about 10 year's now we have all the houses we need till 2050 so sales are down.

rooster8786

January 11, 2012 - 1:38 pm EST

If history serves my memory correct, Democrat Bill Clinton forced banks to make loans, that never should have been made, to allow people who could not afford the loans to "achieve" the "American dream".

Alf42

January 11, 2012 - 2:39 pm EST

Never heard of the Community Reinvestment Act huh? It was passed into law by Jimmy Carter and continued under Bill Clinton. Sounds like you have a selective memory or have been misinformed by the partisan media.

zalo731

January 11, 2012 - 9:29 pm EST

That's good to cite a law that was in existence for 30 years & apparently worked fairly under under the Republican administrations of Reagan & Bush 1 well until the deregulation brought in by G.W. Bush along with the lax supervision by regulators (who took their lead from the disinterest from the White House) of the laws that were on the books to prevent this s***t storm

goodtoknow

January 11, 2012 - 5:30 pm EST

HotRod...Obama just appointed Jack Lew to John Daly's position in the White House. Jack Lew worked for Citi Bank. His job was managing the bundling of subprime mortgages. Obama is one of them.

yardman1

January 11, 2012 - 3:04 pm EST

Rooster and Alf are right. They blame rich bankers for lending out money they knew couldnt be repaid. Just think about that phrase for two seconds. The purpose of lending money is to insure you get your money back with interest, thats what a bank is. However since Fannie and Freddie were backing all these loans this is what you get and they are still trying to do the same stuff as we speak.

buzzman

January 11, 2012 - 5:33 pm EST

If Obama gets another 4 years, we are doomed. Those of us who own homes will probably have to share them with the "less fortunate" - that's the socialist way.
At some point, you have to stop blaming George W. for all the problems we have. This is NOW Obama's economy - not any one else's.

zalo731

January 11, 2012 - 9:37 pm EST

Yes and Obama took over the U.S. economy just in time to try to keep it along with the World economy from falling in the abyss. Too bad Bush only had to deal with the economic meltdown for about 90-120 days before he turned it over to Obama. He & his Treasury secretary was all on board with the bailouts and I would be willing to bet that had Bush been in office for another year that most if not all of how Obama handled the crises would have been executed by Bush. The crisis was like a cancer that started back in early 06 and finally broke in the Fall of 08.

hgals01

January 12, 2012 - 8:31 am EST

Zala: we are still trying to recover from Clinton's Nasdaq crash! The current admin is against a balanced budget and growing Banking jobs in NC. What has the current admin done for all of the Greensboro real estate developers who lost their work?