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The Real Facts of NC Real Estate

FOR THE RECORD

ECONOMY                                 

North Carolina is consistently at the forefront of affordable housing.  Most recently, Cornelius was named one of the most affordable suburbs in the country.  Fayetteville and Rocky Mount were both recognized for high price appreciations.

In 2008, North Carolina welcomed the most newcomers (versus loss of residents) of any state, according to moving services website Relocation.com.  For every 100 people leaving, 180 moved in.

HOMEOWNERSHIP

In February, Gov. Bev Perdue signed an authorization that could save N.C. homebuyers more than $30 million.

The National Association of REALTORS® estimates the impact of the stimulus package and lower interest rates on the housing market to be about 900,000 additional homes sales in 2009 compared to conditions before the stimulus package.

Homes were more affordable in December 2008 than at any other point since the National Association of REALTORS® began its housing affordability index in 1970.

FORECLOSURE FACTS

Nationally, January foreclosure fillings decreased 10 percent compared to the previous month.

In January, the number of foreclosures occurring in N.C. decreased 29.3 percent when compared to January 2008.  Nationally, foreclosure rates were 18 percent higher in January 2009.

North Carolina continues to descend in the official ranking of foreclosure rates, and is 33^rd nationally.

Four states – Nevada, Arizona, California and Florida – represented 53 percent of the 274,399 foreclosures in the U.S. in January.