Lately, I’ve had a lot of people ask for my thoughts on the housing market. It’s no surprise—there’s been plenty of speculation, headlines, and uncertainty. The truth is, expert opinions are mixed right now, and that’s largely due to the market adjusting from the rapid price increases and record-low interest rates we saw not long ago.
So, where are we now? Here are some key takeaways I think everyone—buyers, sellers, and investors—should know:
🔑 Key Takeaways
1. Affordability Remains a Challenge
High home prices, combined with elevated mortgage rates, are making it harder for many people to buy. Affordability is one of the biggest hurdles right now, especially for first-time buyers.
2. Inventory Is Improving, But Still Tight
We’re seeing more homes hit the market compared to the past couple of years, but inventory is still below pre-pandemic levels. This limited supply continues to support pricing in many areas.
3. Mortgage Rates Might Ease—But Don’t Expect 3% Again
Some experts predict a gradual decline in rates throughout the year, but we’re unlikely to see the ultra-low rates of 2020–2021 return any time soon.
4. No Crash on the Horizon
Despite affordability issues, a full-blown housing crash isn’t expected. Today’s lending standards are much stricter than before the 2008 crisis, and buyer demand remains steady in many areas.
5. Regional Markets Vary Widely
What’s happening in one part of the country may not reflect what’s going on in another. For example, North Carolina continues to see strong in-migration and a resilient housing market, even as some areas in other states see price softening and increased inventory.
6. Buyers and Sellers Are Adjusting
Buyers are starting to accept the “new normal” of higher rates, which could mean more activity. At the same time, sellers may need to be more flexible with pricing and open to negotiations or concessions.
Final Thoughts
The market is evolving, and that means opportunities still exist—if you’re prepared and informed. Whether you’re thinking about buying, selling, or just keeping an eye on things, I’m always happy to share insight based on what I’m seeing locally and from trusted sources.
If you’re curious about what this all means for you or your neighborhood, feel free to reach out. Every market—and every situation—is unique.