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Increase In November Home Sales Points To Improving Local Economy

A house for sale in Stokes County, N.C.
Images of Money via Flickr

Purchases of homes in the Triangle region continued to rise in November, showing the local economy is still improving.

Sales rose by 10 percent and the number of homes for sale dropped by 11  percent, compared to the same month a year earlier, according to Triangle Multiple Listing Services data.

The figure follows a year-long trend of rising home sales, and can be attributed to improving consumer confidence, said Stacy Anfindsen, a Cary-based appraiser who analyzes data for local real estate agents. Potential home buyers likely feel better about their job security or may have bought a home when the housing bubble burst in 2008 and had not been able to sell it for the same price, he said.

“It’s the economy,” Anfindsen said. “I think the net of all of that is that consumers are confident.”

Jorge Valencia has been with North Carolina Public Radio since 2012. A native of Bogotá, Colombia, Jorge studied journalism at the University of Maryland and reported for four years for the Roanoke Times in Virginia before joining the station. His reporting has also been published in the Wall Street Journal, the Miami Herald, and the Baltimore Sun.
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