Median Price Change & Competing Offers Median Price Median prices aren't a great way to understand how the market is changing. They don't give an apples to apples comparison. Just because the median price is $450,000 right now (this is an example, not a real number) doesn't mean that it is … [Read more...] about Raleigh Housing Market Update: January 2024
I’m going to tell you the best month to buy a house, and I have the data to back it up. If you’re thinking about buying a home this year, you might be wondering if there are particular months that are better for purchasing. When are sellers are more negotiable on prices? When are there the most … [Read more...] about The BEST Month to Buy a Home in Raleigh (According to Data)
What can we expect from Raleigh's housing market in 2024? Most are predicting a return to some kind of normalcy with lower mortgage rates on the horizon. But to understand what might come next, we need to understand why 2023 was such an odd year for real estate. Historic Changes in … [Read more...] about Raleigh’s 2024 Housing Market: Boom or Bust?
2023 was a crazy year for the real estate market. We had the fewest number of listings sold since 2015. And Raleigh has grown by almost half a million people since 2015. People were definitely sitting on the sidelines in 2023, waiting out high interest rates. Here were our 2023 Market … [Read more...] about Raleigh Housing Market Update: 2023 Year in Review
Here were our 2023 Market Predictions. Our final market update for the year shows the most important thing to remember about monthly market updates. Most reports will track median prices as their primary metric of market health. While they are a good way to keep an eye on trends...they don't … [Read more...] about Raleigh Housing Market Update: December 2023
November saw year over year median home value drops in all but 4 towns in the Triangle. [scroll down to see the chart] If this was a month over month change, I wouldn't even be talking about it, because we EXPECT to see lower prices in November. There is usually less competition during the … [Read more...] about Raleigh Housing Market Update: November 2023
War is horrific. And besides the innocent victims of violence, there are trickle down effects into other parts of life. Like housing. We thought we were almost through the worst of the housing market. In just a few more months, many people expected rates to start trending down and finally regular … [Read more...] about The Scary Economic Impact of MiddleEast War: [Mortgage Rates]
In April of 1980 mortgage rates hit an unheard of 15%. Alongside this spike in rates, came an unemployment rate of around 7% which was high. But nothing compared to what was to come. That summer, a sharp 4% drop in mortgage rates made Americans feel slightly optimistic, but it was the calm … [Read more...] about Redfin Predicts Even More Rate Hikes: Will Rates Ever fall?