Home sales were down in 2010 in the greater Triangle area. But the average price of homes went up.
The federal tax credit for first time home buyers kept housing sales on track for the first two quarters of 2010. But when the program ended – housing sales took a hit.
Stacey Anfindsen is director of the Triangle Multiple Listing Service. He says the total number of home sales in the greater Triangle area was 20,643 homes – six-percent behind sales in 2009. But the average price of homes jumped three-percent.
"Homebuyer tax incentives was designed to get the first time homebuyer into the market, it was very successful at doing that. And once those houses were purchased, that left the sellers with needing a place to go. So it’s a good sign for our economy that they bought houses that were more expensive."
Anfindsen says another bright spot in the greater Triangle market was the increase in pending home sales at the end of the year.