OCHAR Real-Time Market Reports

February 2024

By Orange County Association of Realtors

FEBRUARY 2024 Market Reports

U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.

New Listings in the Triangle Region increased 27.3 percent to 3,827. Under Contract Sales homes increased 2.4 percent to 3,214. Inventory decreased 15.2 percent to 5,802.

Median Sales Price was close to dead even with last year. Days on Market decreased 18.2.

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