Monitoring the economic pulse of the Triad
Guilford home sales: people who make their living brokering the Still a buyers market sales of houses. As an indicator of how slack Existing home sales are up, but prices continue the market remains, Jud found 2,002 houses to fall. on the market, almost four times the number That was the major finding of economist that were sold. At the current sales pace, he Don Jud’s report for the Greensboro Regional reported, it will take almost a year to exhaust Realtors Association on single-family homes the existing inventory. And that’s excluding sold in the Greensboro area in the 4 th quarter of any new houses that might be put on the 2011. In other words, demand from homebuy- market. ers, while higher than before, is still insufficient During the 4 th quarter, Jud found, the largest to put a dent in supply to the extent that prices number of sales of existing homes took place rise. in 27406, which covers southeast Greensboro, That’s good news for prospective homebuyers and in 27410, covering the northwest quadrant who have reliable income and access of the city. The highest inventory of houses is in to credit, and modestly positive news for 27262, in High Point.