Triangle markets saw increased home prices in September

Market Update - September 2015

Home prices continued to increase across the nation through September and our own Triangle real estate market followed suit.

Global analytics and data services provider CoreLogic released its U.S. Home Price Report, which indexed national real estate market activity for the month of September. The report showed a nationwide increase of 6.4 percent, a year-over-year and month-over-month improvement.

CoreLogic also reported that Raleigh home prices, including distressed sales, increased 5.5 percent compared to the same period last year. The Durham-Chapel Hill market also saw a jump of 3.6 percent in September.

A recent News & Observer article highlighted further Triangle real estate market data as provided by the Triangle Multiple Listing Services:

“… [By] most measurements home prices have been rising in the Triangle. The average price of the Triangle homes that sold in the third quarter was $268,500, up 4 percent, Triangle Multiple Listing Service’s data show.”

CoreLogic’s executives also addressed the stability of the national real estate market calling current trends “remarkably stable.”

“After nearly 10 years of very high home price volatility, home price increases have been remarkably stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase,” said Sam Khater, deputy chief economist for CoreLogic. “Home price volatility is now back to the long-term trend prior to the boom and bust which is a good barometer of the market’s stability and health.”

Read more about CoreLogic’s U.S. Home Price Report here.

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