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The Carolinas Home Sales Are Sizzling This Summer
Manage episode 168546808 series 1328415
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Carolina home sales are sizzling this summer. A balanced, healthy market generally means about a six-month supply of inventory. Anything less is considered a seller’s market. At this time last year, we were in a slight seller’s market with 4.4 months of inventory. Right now however, we only have a three month-supply of homes. We have also seen the average sale price rise by 8.2% from last year. This proves that sellers are getting their asking prices in this market.
You can lock in an absurdly low interest rate.
I read an article earlier today that said interest rates were at a historic 41-year low. A 30-year interest rate right now should be somewhere around 3.5%, with a 15-year rate being around 2.5% on average.
These conditions make our market a win-win for buyers and sellers. You can continue to rent and make your landlord rich, or you can lock in an absurdly low interest rate and make the same payment for 15 or 30 years.
If you are thinking about buying or selling, don’t hesitate to give us a call. We are always here to help in any way we can. We look forward to hearing from you.
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