Local Market Updates
* Updated by the 15th each month for prior month
MARCH 2024 Market Reports
U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.
New Listings in the Triangle Region increased 4.3 percent to 4,121. Under Contract Sales were dead even with last year. Inventory decreased 12.0 percent to 5,826.
Median Sales Price increased 2.6 percent from $389,000 to $399,000. Days on Market decreased 16.3 percent to 41. Months Supply of Inventory decreased 4.8 percent to 2.0.
