WHAT’S REALLY GOING ON IN THE GREATER WINSTON-SALEM REAL ESTATE MARKET.
Home prices are falling.
Interest rates will deter many buyers from entering the market.
Inflation coupled with rising construction and development costs will slow new construction
Year-Over-Year price appreciation has slowed. Generally speaking prices are not falling. September marked 19 consecutive months of a list-to-sales price ratio of 100% or higher for homes with no price reduction!
Higher interest rates have reduced buying power, which especially hurts first time homebuyers. However, record high rental rates still make purchasing a great option.
There are still many new Homes being built and neighborhoods being developed, especially by the larger builders who have significant buying power. “Standard” features are being reduced to control costs, so make sure to read the contract carefully
- Focus on the value and memories that a new home will bring to you and your family, not just the price
- Select 30-year fixed rate mortgage, and refinance if the rates come down. NO ADJUSTABLE RATE MORTGAGES!
- Watch sports instead of the news – real estate is local!
Price is what you pay, value is what you get.
GO DEACS!
Berkshire Hathaway HomeServices Carolinas Realty
Tori Boysen
Broker
336-345-3499
tori.boysen@bhhscarolinas.com
www.toriboysen.com
