Has the Housing Market Hit Bottom in Murphy, North Carolina?
By Kate Wheeler, CCIM - Murphy NC Real Estate for Sale
(Country Homes and Land Murphy NC Realtor )
On Tuesday morning, Oct. 21, Barbara Corcoran spoke with Matt Lauer on the Today Show about the latest statistics in the housing market nationwide. By examining several variables, she concluded that the answer is "NO" for the country as a whole. I decided to apply her checklist to the housing market in Murphy, North Carolina to see how we fare based the same criteria. Unemployment rate is nearing 10% - Our rate in Cherokee County has been above 10% for over a year now, and has actually come down recently. There's a large inventory of unsold homes - Our inventory is large, but the total nmber of homes on the market has been dropping Home sellers are on the sidelines - Many people who tried to sell their homes and couldn't have decided to rent their Murphy and Cherokee County properties...
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