North Carolina housing market is strong this spring
The North Carolina housing market is showing stability and overall improvement this spring, according to News 14 Carolina. Local real estate agents explain that homebuyers are starting to realize that houses for sale in Raleigh-Durham and other major cities in the state like Charlotte are getting snatched up quickly.
"You see something online one week and the next week, honestly, it's gone. Things are moving a lot quicker than we thought they were," eager first-time homebuyer Tatum Crotinger told the news source.
This spring has been uncharacteristically warm around many parts of the country, including the Raleigh-Durham area, a factor that may be prompting people to buy and sell homes sooner than they normally would.
The average temperature high for Raleigh in April is 72 degrees Fahrenheit. This month, several days reached the low- to mid-80s, according to The Weather Channel. This might have created great opportunities for people to explore the beautiful neighborhoods in the Triangle and discover homes for sale.
The real estate market is expected to show improvement nationwide during the busy spring season according to David Crowe, chief economist for the National Association of Home Builders (NAHB).
"It's a murky picture, but my expectations are for some modest improvement in the spring and continuing in 2012," Crowe said, according to Investor's Business Daily.
Industry experts say there are a variety of other aspects driving the increase in home buying aside from sunny skies. Consumer confidence is finally increasing as home prices are being reduced, mortgage rates are at record lows and the job market is steadily improving. Furthermore, the costs associated with renting in many places are currently higher than they have been in years.
Essentially, it comes as no surprise that the housing market has been doing well in Raleigh this spring and throughout the majority of the year so far. After all, Inman News ranked the city as number one in the nation on the list of Real Estate Markets to Watch in 2012.
The state's capital city has a lot to offer residents moving to the area, including an array of biotechnology jobs, pleasant neighborhoods and affordable living. It will be interesting to see how the rest of the year pans out for the area, but if it's anything like expected, the real estate market may be finally turning around.