As a REALTOR I often take time to read or listen to what reporters and newscasters have to say about the real estate industry. And to be fair in evaluating their message I seek confirmation from facts and data from several reputable organizations such as local, state, and national Associations of REALTORs among others.
The general public in the Triad would be overcome by terror if they were to read/hear all the negativity from local sources if they were to believe them. However, those writing the local news are not educated to the distinct difference of a local real estate market in comparison to say gasoline. Gas prices have soared all over our nation and we are all equally impacted by the supply and demand.
Not true with real estate. Yes, the same principles apply for supply and demand, just on a much smaller scale. When you pull up to the gas pump you are competing with the business man in Chicago, L.A., and Detroit equally. When you begin a housing search in High Point, NC, you are only competing with other buyers in High Point, NC. And the housing market in High Point, NC is good, could be better, yet nothing like the horror stories we hear from Las Vegas or Tampa.
How good is the market? Well, data supports that North Carolina is among the least impacted states in the union from the housing crisis. There are a few reasons why we have been spared. First, we have a thriving job market. Both Charlotte and Research Triangle areas of the state are showing some of the best appreciation in the country. But there is growth in the Triad as well. FedEx will bring in revenues and people to operate the new facilities being built. These folks will need a place to live. There are thriving enterprises tied to the Piedmont and new ones to come. The unemployment rate has seen a recent drop, be it a small one. And it is an election year so no matter who your candidate is, be prepared for a noticable improvement immediately after the election ballots are counted, regardless of who is elected. It ALWAYS does after the election!
So my advice is this. If you have been thinking of buying a home and have been concerned about the Housing Market, stop procrastinating and contact a REALTOR today! It is the right time now!