The growth of the metro areas of North Carolina continues to encourage our market. We still see record (since 2008) number of homes Under Contract, and a slight decline in the number of properties on the market. With higher interest rates threatening the latter half of this year, I expect to see our current market continue on its current path.
Earlier this year, there were rumors that the way you close a mortgage for a property was about to change. This would impact every person seeking a mortgage to purchase real estate. This has been moved back till October. Currently, as long as a property is Under Contract before October 1st, the new regulations will not be effective. We are still waiting to hear everything that will be enforced as we get closer to September. We could be learning about these regulations at the 11th hour.
*For a copy of the most recent Market Update (NC High Country Market Update 2015-08-03), please don't hesitate to call or email me at any time.
*All data is from our entire High Country MLS market, which includes Watauga, Avery, Ashe, and small portions of surrounding counties.
Regards,
No comments:
Post a Comment