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NC Housing Market Improving

While most of the country struggles with home sales one housing professional who spoke to people at Pitt Community College Monday night says North Carolina

(AP Photo/Amy Sancetta)

While most of the country struggles with home sales one housing professional who spoke to people at Pitt Community College Monday night says North Carolina's housing market is improving..

Tim Kent is the executive vice president of the North Carolina Association of Realtors and says three out of the top five housing markets across America that have maintained their home values are in North Carolina, including Jacksonville.

Forbes.Com recently has voted Raleigh as the number one city in America for careers and the U.S. Census Bureau says over 3.5 million people will move to North Carolina within the next 15 years. Kent says that is a big reason why the housing market will improve--and people should start looking now. "It's an absolutely great time to buy a house. We have record low mortgage rates, the lowest they've been since the 1950's. There's an $8,000 dollar tax credit available for first time home buyers and home prices right now are at 2003 levels. So, it's a great time to buy a house as ever."

Kent says home sales in eastern Carolina dropped 28 percent in 2008 and for the first time in 2009, home sales have improved by four percent.


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