Although North Carolina is still seeing a little winter weather from time to time sellers, who have listed their home for sale, have been experiencing somewhat of an early spring. So far, the market has been extremely active in the first quarter and the peak time of year has yet to arrive.
In Wake County, the market is slightly ahead of last year’s numbers with over six thousand homes either under contract or closed between January 1 and March 14th. Last year, Wake County saw an astounding 20, 362 homes sold and sales are currently on pace to eclipse last year’s numbers.
Sellers are seeing this rush of buyers due to a number of factors.
First, consumer confidence is at an all time high. Buyers simply believe that today’s economic environment is safe and they’re not concerned about layoffs or any type of sudden change in their income.
Secondly, interest rates are still low. When it’s cheap to borrow money it allows buyers to acquire much more home than they would have if the market’s interest rates were higher.
Lastly, the Federal Reserve has hinted at several more interest rate increases and buyers are aware of the fact that the longer they wait to buy the more likely they’ll lose out on the type of property they want.
Sellers can take advantage of this opportune time to liquidate their investment and see a favorable return. But unlike year’s past they won’t need to wait til the spring in order to see more money in their account from the sell of their home.