How is the housing market in North Carolina now? Does that 6.7% really hurt the market a lot? Some agents are saying still a lot of people are buying houses in rush in good school districts in NC. Just wondering if that's true? Also, any recommendations for good zip codes to look into? Thanks guys.
Investor · Raleigh, NC · Member since 2014 · 103 posts · 112 votes
4y
Market is doing ok, its a weird time just like I'm sure everywhere else. Buyers are hesitant with the rising rates and sellers are hesitant because they have to give up their low rates for higher if they sell. I will say Raleigh is on a couple lists of biggest inventory changes YoY. That is partly because we had one of the lowest inventories in the nation. Think if we had 2 weeks inventory and now its 1 month, that is 100% change (the sky is falling) but the national average is still well above that 1 month inventory. Those are not real numbers but the example is true. People and companies are still coming to Raleigh which are two metrics many longer term investors look at (job and population growth). There are still people moving here that need to buy. At the end of the day, its all about your goals and if the macro and micro economics of Raleigh fit that. Same with your zip code question, without knowing what you're looking to do, its hard to suggest any areas.
Investor · Raleigh, NC · Member since 2014 · 103 posts · 112 votes
4y
Market is doing ok, its a weird time just like I'm sure everywhere else. Buyers are hesitant with the rising rates and sellers are hesitant because they have to give up their low rates for higher if they sell. I will say Raleigh is on a couple lists of biggest inventory changes YoY. That is partly because we had one of the lowest inventories in the nation. Think if we had 2 weeks inventory and now its 1 month, that is 100% change (the sky is falling) but the national average is still well above that 1 month inventory. Those are not real numbers but the example is true. People and companies are still coming to Raleigh which are two metrics many longer term investors look at (job and population growth). There are still people moving here that need to buy. At the end of the day, its all about your goals and if the macro and micro economics of Raleigh fit that. Same with your zip code question, without knowing what you're looking to do, its hard to suggest any areas.
How is the housing market in North Carolina now? Does that 6.7% really hurt the market a lot? Some agents are saying still a lot of people are buying houses in rush in good school districts in NC. Just wondering if that's true? Also, any recommendations for good zip codes to look into? Thanks guys.
If you haven't been satisfied with information you have gotten in the past 3 months, I would encourage you to check out my posts on NC Market Data & Trends. I have broken down quite a list of NC areas, and should provide some information that you are looking for. Let's connect, if you are still looking!