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CNBC: Home prices are expected to rise in 2024

Real Estate Broker/Owner with Your Choice Realty of NC 3020206

Referencing this article on CNBC

At its core, this is correct, especially in desirable locations. I've been in this business since 2002, after the 2007-2008 real estate crash large national builders (D.R. Horton, Lennar, Pulte, Toll Brothers, Richmond Amerca, etc) stopped building homes for years. Meanwhile, household formation continued.

Each market is unique, and submarkets within the greater market are based on size/price/location. The under $500k market in the Hendersonville and Asheville area is very short on supply, keeping prices elevated.

It has been good to see some normalization since interest rates went up last year, but I wouldn't expect a large drop in prices, especially in the under $500k market.

Feel free to contact me anytime to discuss your real estate needs/goals/dreams.

As a reminder, Your Choice Realty of NC offers a 1% buyer rebate from our commission on qualifying new construction
purchases! That's $5,000 on a $500,000 home.

Phil Jones - Broker
Licensed in NC & FL

#wncrealtorr #wncrealestatee #drhortonasheville #DRHorton#realestateinvestor #tollbrothers #RichmondAmericanHomes#lennarhomes #homeprices #newconstructionhomes #realestatelife


Comments (3)

Dennis Neal
RE/MAX, Big Bear - Big Bear Lake, CA
Your Home Sold in 21 Days or We Sell It For Free

You offer valuable insight into the real estate market, particularly in areas like Hendersonville and Asheville. With limited supply driving prices up, it's crucial for buyers and sellers to understand market dynamics. While normalization is evident, don't expect significant price drops, especially in the under $500k range.

Feb 06, 2024 03:45 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Feb 07, 2024 04:32 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Enjoyed your blog page, and I added you as a follower. I would love the follow back. Also, then we both get 50 points. Bill

Feb 07, 2024 05:28 AM