Should You Buy NOW... or WAIT? Raleigh Real Estate Market Forecast

The Raleigh NC real estate market has cooled off. Is NOW still a good time to buy? Should you wait? Should you rent? With rising interest rates, recession talk, and uncertainty in the Raleigh housing market, buyers and sellers are unsure what to do. We tell you our thoughts about what is going on in Raleigh real estate so you can decide if now is a good time for you to buy or sell a home in Raleigh NC.

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[ab.]

Totally agree with what you said. Wake County is just different. If people think there’s going to be a “major” crash in wake county, I guess some have to learn the hard way. Buy what you can afford.

[phillipglass]

cmon. it’s a terrible time. prices are still way high as are interest rates.

[Nogi-aka-DJNugz]

Great points. It’s definitely a great time to buy in the Triangle if you are in the market for a home.

[cameronkopko]

How about the condos downtown? So many options but they're overpriced I hope they go down soon

[betterthanezra]

400k for a 1500sq ft is a joke in Raleigh lol

[deanwest]

The market isnt going to be a crash. This area is robust and we have lots of high paying jobs incoming. Wait until Apple and it's supporting companies break ground in Morrisville.

[ib]

CoreLogic reported that Raleigh/Cary has a 70% likelihood of the prices dropping going into 2023. WRAL Techwire reports that Raleigh’s housing market to tip away from a seller’s market by the end of September 2023. What local Realtors are not discussing are the layoffs tech companies are having but they report as soon as a big name is bringing jobs in the future. Raleigh got a boost partly because of remote work. Just like the housing market shifts, so does the job market. Employees are losing the upper hand because the market is more competitive with less job opening and work from home has been scaled back. RTP does not offer high paying Tech salaries in comparison to the states people have migrated from. TBJ reported Raleigh was also #2 to be a remote worker. Raleigh is overvalued as per Moody Analytics part because the house prices do not match the salaries. Remote work is not guaranteed to stay remote. We all will see in time how this plays out. I do know buying a house that loses value is no fun and doesn't apply to date the rate, marry the house.

[GilbertoMartinez]

It's funny how real estate agents say buy now and later when interest rates drop refinance, is the refinancing process free?

[gopalan]

Thanks for the video. Can't decide between a single-family home in Fuquay-Varina or a townhome in Apex for a budget of around 400, 000. Your input is appreciated.