Real Estate in the News

Without scandalous headlines, clicks and likes would be minimal at best. Mood is largely impacted by the media and the narratives it repeats and broadcasts. Hear them. Listen, but remember all these "experts" are guessing at different levels of intelligence.

Fortunately, greater Wake is not re-balancing an overheated inflated market that often requires shocks. January produced a notable shift in mood and activity. Builder sentiment, showings, open house visits and buyer confidence are improving. Multiple offers still exist, due diligence has moderated and appreciation is positive. The median sales price of a parcel of Wake County real estate for January 2023 was $451,500 down $13,250 from December’s 2022 price of $464,750. I attribute the decline to existing 4th quarter inventory accumulating days on market because of ambitious pricing that needed correction.

National Association of Realtors economist, Lawrence Yun, ranked Raleigh #2 of the 10 hottest markets to watch in 2023!