Economy

Home sellers in Raleigh, N.C., wonder where the bottom is

Although Donna Roberts' Cary house is for sale, she was not among the hundreds of Triangle homeowners who participated in a nationwide open house event over the weekend.

Instead, she used the weekend to scope out the competition, touring homes in her Lochmere neighborhood that are priced similarly to her own.

Roberts' house has been on the market since late March. Initially listed for $825,000, the house is now at $779,000 after two price reductions and just four showings.

Fearing further discounts, the neighbors on her cul-de-sac are now upset at her for selling. "It's tough now," Roberts said. "But housing prices could go down even further.

"There's no good time to sell right now, unfortunately."

After years of assuming the housing market couldn't get any worse, a growing number of Triangle homeowners and agents are now resigned to the fact that no one seems to know when it will hit bottom.

Read the complete story at newsobserver.com

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