RALEIGH, NC (WNCN) – While the housing market remains challenging at this time, home prices are beginning to fall in some parts of the country.
Experts from Realtor.com said real estate prices in some communities across the country are gradually flattening out or falling because prices are simply too high for people to afford.
CBS 17 asked Raleigh Association of Realtors President Leslie Williams if we could see the same trend on the ground.
“We should see some decline, but I wouldn’t say we won’t see $100,000 up from last year due to low inventory, but I wouldn’t say we’ll see a huge percentage point,” Williams said.
Another thing that keeps prices high is the amount of people looking to move here.
“We have RTP, we have the drug, we have the technology, you know, and we have the best universities,” Williams said.
Many of the people who come here are also moving from more expensive cities.
“Those who move here for work, for example, still see us as affordable compared to other areas,” Williams said.
According to Williams, the real estate association is in talks with local executives and builders about building more affordable homes, but it will take time for that to happen.
https://www.cbs17.com/news/local-news/wake-county-news/will-triangle-housing-prices-start-to-dip/ Will home prices flatten or fall in the Triangle?