Asides

Housing Affordability Declines in Raleigh as Mortgage Rates Rise and Inventory Dwindles

Forbes recently cited a 38% surge in new home sales since last year, hitting a five-year high in June, according to the newest figures from the Commerce Department. For those of you with short-term memory, that would be the last good year of real estate sales before the bust. Yet, despite a monthly drop in activity, sales of previously owned homes remain 15% higher than last year as well, according to the National Association of Realtor’s. Continue reading Housing Affordability Declines in Raleigh as Mortgage Rates Rise and Inventory Dwindles