Triangle Real Estate Market-
HIGH DEMAND, LITTLE SUPPLY!
I was just reading this great article on the demand we are having here in the Triangle, with little supply!
It discusses how our market is confusing to even the most experienced agents. Our Supply has gotten so low that people are getting up to 20 offers on homes BEFORE they are actually on the market!
But this has also caused problems because those who would
list their home to move within the same area, aren't in fear of losing their equity.New homes are appreciating faster than existing homes so if they want to move to a newer home in similar size they are likely to lose their equity. Plus, once their home goes on the market, it's likely to sell quickly and they will need a place to go fast.
This is causing many home owners not to list and stay put. Homes under $300k are almost impossible to find in the area, which is making it difficult for first time home buyers.