🏠 Home Prices Are Falling! 2022 Q3 Housing Market Update Correction North Carolina Real Estate
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- เผยแพร่เมื่อ 1 ต.ค. 2024
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Home Prices Are Finally Falling, Is It time to buy a house? 2022 Q3 Housing Market Update Charlotte, NC. I'm excited to finally see home prices in Charlotte NC being reduced all over. It is going to allow more people to jump into the housing market. This is only the beginning of the real estate correction we knew was coming. This raises many questions about what to expect coming forward and what to do.
Reggie Jamerson, NC Realtor
704agent@gmail.com
Ashley Lambert Realty
If you are interested in having me be your agents, then please contact 704agent@gmail.com. I also recommend you contact me before visiting a new construction neighborhood as I can be your buyer's agent and help ensure you have representation when buying a new construction home. I work in the following cities: Charlotte, Huntersville, Davidson, Concord, Belmont, Gastonia, Pineville, Matthews, Indian Trail, Monroe, Locust, Kannapolis, Cornelius, Mooresville, Mt. Holly, Stanley, Weddington, Midland, Mint Hill, Harrisburg, Denver
I agree, the prices have not fell enough. I think people buying right now are making the worst purchase high price and high rate. I think you are spot on about Q4, there will be a drop. Myself, I see about a 30% drop, mainly due to the level of rapid increase. Pretty soon you will see heavy levels of inventory in both the resale market as well as the new home market, which like you outlined, were contributing factors. The only point I’d disagree with, maybe I heard it wrong, but new home builders didn’t dictate much of a price increase as the housing market was going up, I remember a lot builders telling me they were staggering their increases to try to keep up with resale the market. However, I do think that the new home builders will control the prices going down, for the main reason you stated, they want to get rid of that inventory, forcing people selling their homes to decrease their price to compete. I know Lennar has already started lowering their home prices.
Anyway sorry to go on so long final point to back up my reasoning for a heavy drop. You saw average increases of about 8% in home value from 2010 to 2019 and then a jump to almost 100% in 2021 (mainly due to scarcity and low rates.) So you saw a 200K house jump to 400K when in all actuality it’s worth 235K, I don’t think it’ll come down that low but I could see it going down to 280K. All in all some people are going to lose money. I prefer to buy at a low price high rate, you’ll always be able to refinance at a lower rate but that price stays constant.
Great work brother. Love the content.
*Thank you bro. I love house price “down” I am planing to move to Charlotte and own a home. I am saving money for down payment. I will get in touch with you*
Fyi- Ginsu knife sucks!!!!! It is not even Japanese
The prices will drop. The interest rate going up will not save you much on purchase. People will not buy due high interest rate. Economy is so bad.
There are going to great deals because of this. I’m prepping my clients to be ready to take advantage of it