Interest Rates are Not Slowing Down Buyers in NC
Predictions were that rising mortgage interest rates would slow down buyers in 2023. Interest rates have actually fallen over the last few weeks of March, and as of mid-April, rates are between 5% & 6%. Most buyers in the Cary and Durham, NC, area are seeing listings sell very quickly and are encountering multiple offer scenarios. This is happening at all price points. Personally, I’ve had clients encounter this at $400,000, $550,000, and $800,000, including over the holiday Easter weekend.
Why is this happening, you ask?
Two things – Buyers do not want to pay rent, and they don’t want to move twice. So they are willing to pay for a house that is in good condition or buy a house that needs work if it is priced appropriately. The increasing rates have only affected buyers in terms of how much house they qualify for, not whether they are buying sooner versus later.
Buying a Home with Amy Shair in NC
Amy Shair is a seasoned real estate agent who specializes in helping buyers find the perfect-for-them home in the Triangle region of North Carolina. With years of experience and a wealth of knowledge about the local real estate market, Amy is dedicated to providing her clients with personalized service and expert guidance throughout every step of the buying process.
Whether you are a first-time homebuyer or a seasoned investor, Amy has the skills and expertise necessary to help you navigate the complexities of the Triangle’s real estate market. She takes the time to get to know her clients and understand their unique needs and preferences, and she works tirelessly to find homes that meet their criteria. From helping you identify the right neighborhoods and schools to negotiating the best possible deal, Amy is committed to making the homebuying experience as smooth and stress-free as possible.
Find Amy’s contact information here.
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