Now is a great time to prepare and consider selling your home. If not in Nov & Dec 2021, consider early January 2022.
New construction has been steadily rising throughout the year, as noted in this National Association of REALTORS® article by Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS®. Dr. Yun points out that while these new construction homes aren't geared towards first time buyers due to their larger size and higher price, they will appeal to "trade-up" buyers, increasing available inventory.
The News and Observer points out that this trend in new housing has already been noticed in the Triangle, particularly southwest and west Wake County. Interest rates are predicted to rise, reaching as high as 3.5% through the end of 2022 according to Realtor.com.
Good news for sellers however! This article also points out that we are likely to continue to see an upwards trend in housing prices due to new large-scale companies move to the area. If you are interested in what companies are coming, click here for more info.
All in all, inventory is increasing, if you want to take advantage of the market, sell now!
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