Looking to Invest in North Carolina? Check These 10 Key Stats

Utilize these tips to secure your home up north.
BLOG-SIZE-(FOR-BITRIX)02 (4).jpg


The real estate market is still roaring, and if you know where to look, you can find some great opportunities. Remember that it is always great to be in an area that is going to have quite a bit of demand. You want to be where the demand is because that is where the greatest opportunity lies.

The aspect of supply and demand is quite critical in real estate because it is not easy to quickly create properties.

Supply and demand determine the real estate market conditions. Home costs have been climbing and they continue to climb in North Carolina. Some experts are stating that home prices have increased by over 18% since 2020.

Let us study this in a bit more depth.

Single Family Homes Are Turning Over Quickly

Single-family homes are being sold at lightning speeds. Investment firms are in an excellent position as they own a good amount of real estate. This includes both homes and apartments. This is specifically true for areas such as North Carolina.

Large corporations can swoop in and purchase property to utilize as rentals. Individuals on a budget may not be able to afford to go up against a corporation that can outbid individuals by tens of thousands of dollars.

Investors Own Large Portions of Real Estate in North Carolina

Investors own a large chunk of real estate because market conditions are conducive to this. Interest rates have been low and demand for rentals is high. These conditions are not a result of the pandemic alone. The issue is the lack of houses.

Housing production decreased between the years 2001 and 2020.

As a result of this, there are fewer homes available. To keep up with current demand, at least two million houses would need to be built per year over the next decade. There are supply chain issues currently which means that while houses are being built, they are not being built quickly enough. Add to this there are not enough employees available for construction firms to meet demands for housing construction.

As a result of these conditions, houses are being purchased sight unseen for thousands above the asking price.

It Requires More Funds to Participate

Individuals with a budget of $600k are having to purchase sight unseen. This is because many homes are being sold before being active on websites for houses.

These prices are not going to change anytime soon as many technology companies are moving to North Carolina. These technology companies include companies such as Apple, Google, Micron, and plenty more.  

Rent prices and housing prices have caused some individuals to resort to living in campers at a campground.    

Many individuals look for a while and then realize that houses are being snatched up instantly after hitting the market. Some of these houses do not even make it to the market. Often the sellers receive multiple offers above the asking price.  

If you are looking for a house in North Carolina, all hope is not lost. Ensure that you look early and have extra money on hand to offer above the asking price. Taking advantage of these steps as well as plenty of research will ensure that you too can own a home in North Carolina.




BLOG-SIZE-(FOR-BITRIX)03 (2).jpg
08/08/2022

10 Cities in Which Home Prices are Actually Going Down

You or someone you know needs to know this. The real estate market was hot due to a couple of varied reasons. Now, the real estate market is cooling in certain areas.  This is fantastic for those who are looking to move into their first home. If the...
Elvia Lozada
BLOG-SIZE-(FOR-BITRIX)02 (5).jpg
08/08/2022

Interior Design Trends to Consider in 2022

Design does not have to be restrictive. Designing a home can be an expensive task. This is also something that requires the investment of time. It is important to investigate what is new with interior design trends.  This helps you stay ...
Elvia Lozada
unnamed (1).png
08/01/2022

Q1 of 2022 Showed a Remarkable Increase in Single-Family Investor Activity

A very healthy surge. The real estate market is showing signs of improvement. In the last quarter of 2021, the market was disappointing. But things are looking up in certain aspects this year. This is fantastic news for those who are lookin...
Elvia Lozada
We use cookies
Cookie preferences
Below you may find information about the purposes for which we and our partners use cookies and process data. You can exercise your preferences for processing, and/or see details on our partners' websites.
Analytical cookies Disable all
Functional cookies
Other cookies
We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. Learn more about our cookie policy.
Change preferences Accept all
Cookies