Q: What’s Happening in Our Market?
Despite the anxieties in the U.S. right now, our market is doing well.
What’s happening in our current real estate market? There’s a lot of uncertainty right now with the pandemic, protests, and everything else happening in the world. However, things are still strong in our housing market.
Housing inventory is very low, with 5,961 homes currently active on the market. That’s the lowest number we’ve seen in 20 years. Now is a wonderful time to sell your house because the market is all about supply and demand. Low inventory means you’ll see home appreciation, more showings, more offers, and a higher final sale price.
Things are still strong in our housing market.
Due to the health crisis, our spring market was a bit delayed but is picking up now. Typically as we head into June things begin to slow a little, but the market keeps getting busier.
It’s also an excellent time to buy a home because buyers can take advantage of the fantastically low interest rates. Lenders are currently quoting under 3% for a 30-year conventional loan, which is crazy! If you’re considering a refinance, interest rates are even lower. Our current Triangle area market is a win-win for both buyers and sellers.
If you’re thinking about buying or selling a house, we would love to give you our guidance and be your advocate throughout the process. Call or email us at [email protected] if you have questions about our current market or real estate in general. Also, you can text “LISTING” to 555888. We would love to help you in any way possible.