It’s still a seller’s market in Johnston County

By BARRY WOODARD, MANAGING PARTNER HTR GROUP

The seller’s market holds steady with homes selling within hours of being marketed through MLS and virtual tour sites. The average number of days for a home on market is around four in multiple price points in Johnston and Wake counties.

We have seen a slight increase in interest rates but are predicting that long- term rates will stay within reasonable levels (between 3 and 4% for a 30-year fixed mortgage).

Inventory levels will likely remain low due to high buyer demand from those moving out of the city centers into the more suburban areas around Raleigh.

Lumber prices have caused a spike in new home construction pricing. The volatility may continue to cause disruptions in the supply of new home production and support the theory of low inventory for the foreseeable future.

Want to learn more? Visit the website of HomeTowne Realty, which is celebrating its 20th anniversary, at www.myhtr.com.