The real estate market at it most basic and rudimentary level can be understood through basic Economics. Real estate values are driven by supply and demand. If supply increases and demand does not increase in kind housing values drop. This is know as a buyers market. While if the opposite is true and demand increases without supply keeping pace prices increase. Here we have a sellers market. This is of course just the starting point. There are innumerable reason that can cause both supply and demand to ebb and flow. This being the case an important aspect of the real estate business is listing trends. An easy way for brokers to gage where the market is heading is to track listings in terms of months supply on the market at any given time. At the point of writing this Raleigh listings are currently hovering around nine month supply. This is a rough figure hewn together from numerous price categories. If you are interested to see what the competition looks like at your homes price point please contact me. I’d be happy to prepare a comparative market analysis for your specific situation. Or if you want to search for Raleigh homes for sale just click here.
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