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Linda Trevor & Co
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Happy New Year!

Hello friends,

We hope you all had an enjoyable holiday spent with family and friends! The beginning of a new year always brings excitement for a fresh start and a time to reflect on the past year. So in that light, let’s take a look…..

New Area Accolades!

For the third year in a row, North Carolina was named the Best State for Business in 2019! Since 2006, Forbes has reviewed all 50 states using six metrics including business costs, regulatory environment, economic climate, growth prospects and quality of life. North Carolina ranks in the top third in all six categories, with the highest marks for its regulatory environment and has the fourth-lowest business costs of any state and rates ninth for labor supply.

WalletHub named Raleigh and Durham among the top 50 safest cities in America in 2019. The study compared more than 182 cities across 41 indicators of safety. The data set ranges from assaults per capita, unemployment rate, road quality, and more. Raleigh came in at the #22 spot with Durham coming in at #46.

Market Trends Report

As we await the final numbers in the annual report for 2019, here are a few highlights for the Triangle area through the month of November:

- Under Contract Sales were up by 22%
- The Median Sales Price increased 3.7% to $279,900 (vs $269,000 this same time the year prior)
- Sellers were encouraged as Months Supply of Inventory was down 14.8 percent to 2.3 months.

While it may seem that January would be a slow month in real estate, we are already gearing up to add many new homes to the market. So if you are considering selling your home, beat the Spring market and give us a call today!

And finally, as we begin a New Year and a new decade, we hope that 2020 will bring you many blessings! To quote Ralph Waldo Emerson, “Write it on your heart that every day is the best day in the year.”

Until next month….
Happy New Year from all of us at Linda Trevor & Co.

Featured Listings

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Compass Luxury Collection

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Existing-Home Sales Climb 1.9% in October

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Existing-home sales rose in October, a slight recovery from the declines seen in September, according to the National Association of Realtors®.

Lawrence Yun, NAR's chief economist, said this sales increase is encouraging and he expects added growth in the coming months. "Historically-low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly contributing to these higher numbers," said Yun. "We will likely continue to see sales climb as long as potential buyers are presented with an adequate supply of inventory."

Mortgage rates were trending downward since July through September, but slightly rose in October. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 3.69% in October, up from 3.61% in September. The average commitment rate across all of 2018 was 4.54%.

October 2019 existing-home sales in the Northeast fell 1.4% to an annual rate of 690,000, with no change from a year ago. The median price in the Northeast was $296,700, up 5.7% from October 2018.

In the Midwest, existing-home sales increased 1.6% to an annual rate of 1.29 million, up 2.4% from a year ago. The median price in the Midwest was $209,900, a 6.7% jump from a year ago.

Existing-home sales in the South increased 4.4% to an annual rate of 2.35 million in October, up 7.8% from a year ago. The median price in the South was $234,900, a 6.0% increase from this time last year.

Existing-home sales in the West declined 0.9% to an annual rate of 1.13 million in October, 3.7% above a year ago. The median price in the West was $410,700, up 7.8% from October 2018.

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