Raleigh Real Estate Blog

The flaming-hot housing market has seen median home prices soar an unprecedented 24% since the outbreak of the virus last year – great news for sellers. But in recent weeks, that fire has lost some of its heat as buyers finally start to push back at sky-high prices.

This past month brought an interesting shift in the housing market indicating that things are beginning to stabilize.

House-hunters, rejoice! The wild real estate market might finally be getting better for first-time buyers or anyone looking for a small house.

The epic housing shortage may finally be starting to ease up a little. More supply is suddenly coming on the market, which will certainly help frustrated buyers and could, in the longer term, take some of the heat out of home prices.

Can you believe we are already halfway through 2021? Summer has officially arrived and the real estate market is matching the hot temperatures we’ve already been seeing!

The housing market continues to be sizzling hot resulting in higher home prices and quick-selling homes. Mortgage rates are up slightly, but are expected to remain at near record lows for the rest of the year.

The real estate market is in full bloom! According to the National Association of REALTORS®, home sellers this year have cited that they sold their homes for a median of $66,000 more than their original purchase price. If you are considering selling, now is the perfect time to take advantage of this flourishing real estate market and maximize the return on your biggest investment.

In addition to warmer weather, this Spring has also brought along a HOT real estate market. With increased vaccinations and an improving economy, many of the homeowners who decided not to sell in 2020 will likely be more open to moving later this year, thereby opening up more inventory for potential homebuyers.

COVID-19 has radically changed our world, and its impact on the housing industry is no different. From increased demand to changing home buyer preferences, the pandemic has transformed the real estate market. The good news is that after a year like no other, the real estate industry is still thriving – and with Spring around the corner, it’s already beginning to heat up.

With 2020 behind us, it is time to look ahead. With a Covid vaccine and an improving economy on the horizon, things are looking up for the new year. The real estate market remains strong, with new construction trying to keep pace with demand. While equity continues to grow for homeowners, buyers still have the opportunity to take advantage of record-low mortgage rates.