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Triangle Housing Heading Towards A Sellers Market

The Triangle housing market appears to be shifting back towards a sellers market. The average number of days on the market, 109 to be exact, is down 11% from last spring. Part of what is driving this trend is that the supply of available homes on the market has continued to shrink, limiting buyers options and raising prices on homes for sale. The competition for available homes is getting stiff, with many sellers receiving multiple offers and seeing bidding wars for the first time in several years. The Triangle continues to draw new residents, and is home to many potential first-time homebuyers or growing families who have stayed out of the market until there was more stability; these buyers are now feeling the pressure to jump into the market before prices and rates rise further. Visit WRAL to read the full story.

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