There’s no denying the 2nd Quarter real estate housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point.
As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist of realtor.com, explains: “New listings-a measure of sellers putting homes up for sale were up 6% above one year ago. Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted many homeowners to sell homes this year compared to last, giving home shoppers much-needed options.”
How This Impacts You
The combination of more homes coming onto the market, an expected increase in interest rates, and a slower pace of home sales mean you’ll have more options to choose from as you search for your next home. Searching for a home for sale in Carteret County may not be as intimidating as the past few months. As our market shifts back to pre-pandemic levels, you could have a unique opportunity in front of you. If you are looking to sell your home rather than buy, do not worry; prices are still holding and our housing absorption rate continues to be low
Interested in buying real estate here on the Coast of North Carolina? Check out our local real estate housing report here!