12/18/2020
Yesterday, my team in the Triad market received a very insightful update for the present and future outlook of the housing industry in our local area. Here’s a quick recap of how the current market is looking and what the future market might mean for you. Let me know your opinions below.
🧡New construction housing has absolutely SKY ROCKETED over the past several months🚀
🧡Listings have been substantially declining while buyers continue to flood our area
🧡Prices continue to increase as we see an average 8% YOY appreciation in our area and affordable housing is so scarce!
🧡There is a strong value for new construction because buyers are able to purchase a BRAND NEW home for virtually the same price if not lower than the current preexisting homes on the market that need major updating
What do we see for the future?
🧡Continued growth
🧡Continued appreciation
🧡Return of jobs
🧡Continued DESPERATE need for affordable housing for the current buyers and upcoming generation
What does this mean to buyers?
With appreciation rising, continually low interest rates, and future expansion of our area, there is no better time to purchase a home. With extremely low inventory and the inventory that is currently on the market in the affordable housing brackets needing major updates, there is no better time to buy new construction.
I would love to open a thread and gain yours and your buyers perspectives on how the market has been treating you. Let’s hear your opinion⬇️
