Crystal Coast Real Estate— Home Sales Rise to Highest in Five Years

Rising mortgage rates may be pressuring more North Carolina homebuyers into purchasing their piece of real estate now before further increases and home sales are showing the signs. According to Realtor Magazine, new-home sales have not been affected by the rising rates, but instead have risen to a 5-year high.

Are you looking to purchase a home on North Carolina's Crystal Coast? Have the rising mortgage rates and housing prices as of late forced you to question if now is the time to buy? It seems other buyers have spoken for you as new-home sales have soared through the housing recovery.

"The recent increase in mortgage rates hasn't slowed demand as long as home affordability remains high," Bob Walters, Chief Economist at Quicken Loans told Reuters. "We are, however, seeing an increased urgency from potential new homebuyers as they move to secure today's historically low rates."

It turns out, more and more buyers are returning to local real estate markets as housing inventory is slowly beginning to rise— following a long period of record lows— and housing prices continue to increase. With more bidders to move inventory quickly, buyers are urged to act fast to ensure they will snag their dream home.

So, don't let the rates scare you from purchasing your Crystal Coast home! Let us find you the right property in Emerald Isle, Atlantic Beach, Morehead City, Harker's Island, and more!

Gena Gilbert

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