As we close the chapter on the 2019 local real estate market, we wanted to give everyone a quick market recap and some projections for 2020.
It was another record setting year for local real estate in 2019. U.S. News & World Report stated that North Carolina was the 10th fastest growing state in the Nation and Southeastern NC is one of the hottest areas for people to relocate. The 2019 real estate year in review reflects overall market numbers that continued to be incredibly strong:
- We believe we will continue to see a strong and stable real estate market in our area.
- Inventory remains limited for homes priced $300,000 and under.
- Interest rates have remained low, 30-year rates in the 3.5% range. Rates are expected to remain low this year.
- Our local and national job markets continue to be very strong.
- Our strong economy means we expect luxury home values to hold steady.
As we gear up for a successful 2020, we know that the majority of our business will be from personal referrals of friends and family. When you hear of someone who needs to buy or sell real estate in 2020, it would mean the world to us if you referred them to us. We are here to help you with all your real estate questions and needs, no matter how big or small. We are here to be your consultant and advocate.