Fall doesn’t officially begin until September 22, but it’s quietly sneaking in the back door as children head back to school and the Carolina Panthers take the field for their 18th season.
And sure as the leaves will change, fall will bring higher interest rates, increased housing inventory, increased property values and more new construction starts to real estate in the Carolinas.
“Healthy, steady and exciting are the words I would use to describe what’s happening out there right now,” said says Allen Tate Company President and COO Pat Riley in the September-October edition of Carolinas Market Update, a bi-monthly real estate video series produced by Allen Tate.
While it’s still very much a seller’s market and will be for a while, says Riley, rising interest rates and new construction will begin to impact the market in the coming months.
“Now is the time,” says Riley. “Waiting for your home to appreciate to sell also means that the home you want to buy will increase in price.”
The Carolinas are seeing corporations relocate employees at an increased pace, a sign of the improving economy. Other factors that will continue to influence the market this fall are high rents and the decline of distressed properties.
Carolinas Market Update is targeted to consumers in the Charlotte, Triad, Research Triangle and Upstate S.C. regions. It is produced every other month by Allen Tate Company and features information, statistics, trends and predictions about the real estate market in North and South Carolina.
To access the latest Carolinas Market Update, go to the Allen Tate YouTube channel or contact any Allen Tate Realtor®.