Professor Sherry Jarrell Offers Perspective on Home Sales Report

6.17.2011 General, Multimedia, School News

Reposted from News 14 Carolina | by Meg Smith

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WINSTON-SALEM – A new report says the housing market in the Winston-Salem area is lagging.

The report, from a Twin City based appraisal firm, says home sales fell about 10 percent compared with this time last year. However, one realtor we spoke with told us business for her company has been going up since April.

"We've had the best year that we've had since being in business the past six years," said Patti Sturdy, who works for Leonard-Ryden-Burr real estate.

A Wake Forest University economist offered a different perspective.

“People simply don't have the money to go out there and get a house right now, even if it's at an historically low price,” said Sherry Jarrell, an economics professor at Wake Forest's School of Business.

The report also showed new listings were down almost 14 percent this year compared to last.