Research Indicates North Carolina Real Estate Market Doing Well

PR Log (Press Release) – Jan 25, 2007 – RALEIGH, N.C. – Research from Coldwell Banker Howard Perry and Walston shows the real estate market in North Carolina continues to perform well and is expected to stay strong. According to industry estimates, 2006 will be the third-best year on record for home sales, with an all-time high inventory of homes for sale on the market and interest rates comparable to 40-year lows, offering buyers a broad range of affordable choices at present. For those already owning homes, the national median price of houses purchased 10 years ago has increased 88 percent. The number of U.S. households is expected to increase 15 percent during the next decade, creating a continued high demand for housing. In terms of its own business, Coldwell Banker Howard Perry and Walston found that of all the visitors in October to its Web site (http://www.hpw.com), 30 percent were out-of-state buyers. Included among those visitors were international as well as national customers, indicating worldwide interest from people to purchase a home in North Carolina. Coldwell Banker Howard Perry and Walston has the state’s number one real estate Web site.

News Facts:

· Research from Coldwell Banker Howard Perry and Walston shows the real estate market in North Carolina continues to perform well and is expected to stay strong.
· According to industry estimates, 2006 will be the third-best year on record for home sales, with an all-time high inventory of homes for sale on the market and interest rates comparable to 40-year lows.
· Of all the visitors in October to the Coldwell Banker Howard Perry and Walston Web site (http://www.hpw.com), 30 percent were out-of-state buyers.
· Included among the Web site visitors were international as well as national customers, indicating worldwide interest from people to purchase a home in North Carolina.

Quotes:
“Former Federal Reserve Chair Alan Greenspan recently predicted that the fourth quarter of housing nationwide will be better than the third one, and I concur,” said David Jones, COO of Coldwell Banker Howard Perry and Walston. “We expect continued success for real estate in the state, particularly in the Piedmont area that we serve, and look forward to doing business in it.”

“Despite some statements to the contrary, all indications are that North Carolina is on track to remain as a strong real estate market over the next year,” said Josh Swindell, sales manager for the Coldwell Banker Howard Perry and Walston Cary Kildaire office. “The news is good whether you are buying or selling your property in the state.”

About Coldwell Banker Howard Perry And Walston:
Howard Perry, an established builder, and Don Walston, a real estate entrepreneur, formed Coldwell Banker Howard Perry and Walston in 1972. Today the company has over 700 real estate professionals, 12 sales offices, the area’s premier new homes division, a mortgage company, insurance services division, title company, an award winning relocation division, a growing Concierge home services division, the area’s number one real estate school, and the state’s number one real estate Web site. The company has become the largest full-service residential real estate company in the Triangle and one of the leading realty firms in the nation, with more than 11,000 transactions a year and almost $3 billion in sales. In 2006, Coldwell Banker Howard Perry and Walston was recognized among the 50 fastest growing private companies in the Triangle by the Triangle Business Journal. For more information about Coldwell Banker Howard Perry and Walston visit their Web site at http://www.hpw.com.

Keywords:
Coldwell Banker Howard Perry and Walston Real Estate
North Carolina Interest Rates
Mortgage David Jones
Josh Swindell Out-of-state Buyers

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com

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