Allen Tate Carolinas Market Update for March 2023 with Pat Riley
This is Pat Riley, CEO of Allen Tate Realtors, providing his March 2023 update on real estate in NC and SC.
Here are the take aways:
1. Real Estate has always been geographic and neighborhood driven.
2. America is getting use to rates in the 5%-7% range. The days of rates of less than 4% is probably in the rear view mirror.
3. Date the rate, marry the house, deduct the interest and refinance the house later if interest rates drop.
4. The average first time homebuyer has spent $94,000 in rent before buying their first home.
5. Homes in good condition and priced right will continue to sell quickly.
6. Homes are still appreciating, but not at the unsustainable highs of the past couple years.
7. The Carolina's will continue to be a place that people and companies migrate to.
Want to talk about your property - get a market update, consider upgrades or maybe put that for sale sign in the yard - don't hesitate to reach out today.