"Insights and Trends: Navigating the Ups and Downs of the Triangle's Housing Market"
The Triangle housing market is showing signs of recovery as mortgage rates fall back into the 6% range, sparking optimism among real estate professionals for a robust market in 2024. Increased open house attendance and a surge in mortgage applications indicate renewed buyer interest. Although the market may not reach the frenzy of early 2023, multiple offers and excitement are expected. The increase in available homes, from 2,300 last year to over 7,000, along with more affordable rates, is promising for both buyers and sellers, with home prices predicted to rise in the Raleigh-Cary and Durham-Chapel Hill areas.