Winter 2022 Real Estate Market Update for the Triangle – It is time for winter 2022/23 Real Estate Market Update.
What is really going on with the Triangle Real Estate Market this winter?
Five Things about the Triangle Real Estate Market
- Interest Rates have gone down since early November. Now they are certainly not what we saw in the early part of 2022, but they are coming down, and buyers have different interest rate options. You can do an adjustable rate, or you can do some creative things to help make buying more feasible now than earlier this year.
- Lenders have increased the limits for the conforming loan limit. So that means people in higher price ranges can borrow more money, less expensive, so that is freeing up some buying power for move-up people and folks moving from other areas of the country that are in a high price point.
- Builders are wanting to work with buyers now! Go figure. It is no longer standing in line, placing a bid, seeing if your offer gets accepted way over the asking price, and accepting just the options that were already specked out for a house. It’s a nice change of pace, and buyers are not having to pay over the asking price for a new home regardless of whether it is already done or is to be built and finished in 2023.
- Sellers who get their homes priced right and on the market in good shape are having success in selling their homes. It’s that simple we are no longer just throwing a house up no matter what condition, and it is selling in a couple of days. Buyers are being pickier, so sellers are rewarded for doing the right thing, for getting their house in good shape, staging it, and making sure it is priced correctly.
- Sellers who hire an experienced Real Estate agent, like me, are succeeding in the winter market. Experience counts! We’re back to a point where people who know what they are doing have expertise and experience. Those of us who know how to analyze market data, which is not every realtor, I will tell you that. Those of us that are doing our job and doing it well are getting houses sold for these sellers. So, sellers are rewarded for making good decisions and hiring somebody they trust, who they know will do a good job selling their home.
So, if you are interested in discussing the real estate market here in the Triangle, whether you are a buyer or a seller, just let me know. You can text me, call me (919-818-5001), or chat with me on social media, whatever works for you. Find Amy’s contact information here. Visit our Facebook page here https://www.facebook.com/AmyShairRealEstate