House-hunters, rejoice! The wild real estate market might finally be getting better for first-time buyers or anyone looking for a small house. The share of small houses for sale jumped in July 2021, according to data from Realtor.com. Plus, new listings are up 6.5%. In addition, mortgage rates have dropped to a five month low and competition has slowed. All of this is fantastic news for home buyers.
For home sellers, the market is still strong. The median existing single-family home price rose 22.9% to $357,900, an increase of $66,800 from the year before, according to the National Association of Realtors. The real estate surge is not stopping anytime soon. It’s still very much a seller’s market, which has been frustrating for buyers who are competing with so many others when making offers on homes.
All of this is why you need an agent with experience and knowledge of the market. Whether you are buying or selling, I can help you navigate this real estate market. Contact me today to get started: (919) 291-5704
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