Triangle Market: More Inventory, More Balance
The Triangle market is showing more inventory, stable prices, and about four months of supply. This is creating a more balanced market, with buyers gaining opportunities and room for better negotiations.
Key takeaways
- The Triangle has about 4% more homes available for sale.
- The number of homes sold during the year remains similar, and prices are generally stable.
- Prices could decline slightly by 1% to 2% following the recent increase in interest rates.
- About four months of inventory is creating a more balanced market and giving buyers opportunities for better negotiations.
Explanation
The market currently has about 4% more homes available for sale, while the number of homes sold during the year remains similar. Prices have been very stable overall, although some neighborhoods may see increases and others may see declines, even with high interest rates. Following the recent increase in interest rates by the Fed and its effect on mortgage loans, prices could trend slightly lower by 1% to 2%. The market is also expected to take a little longer to sell homes. With about four months of inventory, the market is becoming more balanced between buyers and sellers, reducing the advantage sellers had recently and creating opportunities for buyers to negotiate more effectively.
Reel transcript
English version
The Triangle market today is showing us a little more inventory, around 4% more homes available for sale, with a similar number of homes sold during the year. Prices have been very stable; some neighborhoods may rise, others may fall, but overall prices are holding despite high interest rates. It is expected that with the increase in interest rates recently made by the Fed and passed through to mortgage loans, these prices may tend to decline a little, 1% to 2% lower. It will not be a major difference, but they may decline, and it is expected that homes will take a little longer to sell. Inventory has been increasing with this; we are already at around four months of inventory, which makes it a balanced market between buyers and sellers, leaving behind the power sellers recently had and opening buying opportunities for many buyers and the chance to obtain better negotiations. If you have questions about how the market is for selling your home or whether it is a good time to buy, call me; I will be happy to help.
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