Area Home Prices Rose in November

Triangle area metros saw home prices increase again in November according to CoreLogic’s Home Price Index Report. Yes, potential home sellers, now is the time to put your house on the market.

CoreLogic’s report, which compared data from the same period last year and included distressed sales, indicated that the Raleigh market saw prices increase 4.7 percent and the Durham-Chapel Hill metro posted price increases of 3.4 percent. The report also demonstrated a nationwide home price increase of 6.3 percent.

CoreLogic’s President and CEO Anand Nallathambi said, “Many factors, including strong demand and tight supply in many markets, are contributing to the long-sustained boom in prices and home equity which is a very good thing for those owning homes.”

Triangle home price increases are due largely to the waning supply of homes for sale throughout the ever-popular metro areas. In fact, November marked the 15th consecutive month that inventory has decreased throughout the area making way for quick home sales, many of which received multiple offers.

Now is the time for those thinking about selling to take the next step and partner with a real estate agent to list, market and sell their home. Well-maintained, properly priced homes are in high demand.

Read about the CoreLogic Home Price Index report further in The News & Observer article “Report: Home prices rise in November in the Triangle” here.

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