Key Takeaways:
- Experts predict continued appreciation of homes despite the deceleration of the market
- Housing supply is rising but not enough to lower home prices
- Home values have continued to rise over the last 122 consecutive months and show no sign of stopping
The History of Home Pricing
It’s no secret that home prices have risen exponentially over the last couple of years but the reality is, home appreciation is not a new trend in the real estate market. In the last 10 years, home prices have been climbing steadily month by month and over the last two years, home prices have risen at a much faster pace than recent history.
Over the last two years, there have been significantly more buyers in the real estate market than homes for sale, especially in the Triangle Area. The imbalance of home buyers and available homes placed immense pressure on the market and sent home prices way up.
Where are Home Prices Headed in the Future?
Whether you are buying or selling, it’s important to understand where the real estate market is headed in the coming months. While experts continue to predict rising home prices, experts also predict that home prices will rise at a slower rate than they have been.
This means great news for buyers as housing supply will start to increase providing more options and a slower moving decision process. However, the number of buyers will continue to outpace the number of homes on the market.
Ready to Buy or Sell Your Raleigh Area Home?
Given that home values will continue to rise, now is the perfect time to buy or sell your home. Sellers can enjoy the same top-dollar sales that the last few years brought and buyers can enjoy more options with a higher volume of homes on the market.
The best way to achieve your highest sale price or find your perfect new home is to connect with a local expert. Our team has decades of experience and ample resources to give you the advantage. Contact us today to get started!