North Carolina Mortgage Activity on the Rise: Existing Home Sales Up in Triad

The number of existing homes sold in the Triad and across the state increased in 2006, according to data from the N.C. Association of Realtors.

Last year, 17,669 existing homes were sold in the Triad, up 7 percent from the 16,520 sold in 2005. The average home price rose 2 percent to $177,689.

Across the state, sales rose 3 percent, with 139,676 closings in 2006. Home prices statewide also rose an average of 2 percent to $214,952. This didn’t appear to slow down North Carolina mortgage activity, fortunately.

In the Triangle, home sales and home prices both rose 5 percent during 2006, with 36,409 homes selling at an average price of $227,155.

In the Charlotte housing market, sales rose 13 percent, with 43,389 closings. Home prices rose only 4 percent over the year, to an average price of $221,130.

This is good news. Sellers are still seeing slight profits on their properties, while prices are not out of the range of home mortgage loan applicants. Such a trend can only bode well for the future of this region’s housing market.