One word: “UPWARDS”, is the most important takeaway from recent home pricing news.
You may see news reports that paint a “bad” picture about housing prices – they may use words that make you think prices are going down.
THAT’S NOT TRUE!
Prices continue to rise – home values are going up overall in the US and in the Triangle. It’s the rate of increase that’s slowing. 2018’s hot 7.7% increase in our market has cooled to a 4-5% increase in our market since last June.
As you can see from the charts below, the entire country is experiencing price increases. Even out West, where appreciation outstripped many buyers ability to afford homes, prices have slowed but are still rising!
And while North Carolina’s increases are lower than the average for the South Atlantic Region, overall, prices are still trending higher.
You may be wondering, if the average for all of North Carolina is 5.44% higher, what does that number look like where I live?
I’m glad you asked!
Here is are the numbers, by county and major city.
The takeaway: While our growth is generally slower compared to the overall average in the United States, home values are still headed upward throughout our region.