Believe it or not, the real estate market has drastically changed in the past decade. Aside from the recession that we encountered back in 2006, there are several changes that should be noted.
Picky Home Sellers | North Raleigh Real Estate
According to a study conducted recently about North Raleigh real estate, ten years ago 59 percent of homeowners accepted the first offer on a home. Now, they only accept the first offer about 46 percent of the time. This data suggests that homeowners are being a bit pickier when selling.
Millennials and retirees are more interested in owning property in walkable communities that offer everything they need, within walking distance. These mixed-use communities were barely constructed a decade ago. Now they are a must for various generations.
Mobile and Online Listings
According to Metrocosm.com "Previously, it was common to find a home through a broker or agent, in classified ads and via yard signs. Today, the Internet is everyone's first stop. The role of brokers and agents has changed as a result. It was often necessary to go through an agent just to see what homes were available. Today, very many listings are only posted online."
Faster Selling Homes
Ten years ago, we didn't use technology as a way of showing a home. Now, with virtual tours available, you're able to view homes online. With the actual viewing of the home being the "second showing", people can make decisions faster and easier.
Rent vs. Owning
Because of the unemployment rate and other issues with our economy, renting as opposed to owning is now more popular than ever. A decade ago, people weren't losing homes or being enslaved due to negative-equity. Over the past ten years, these things have happened and people are now skeptical to buy a home.
If you're worried about the market and unsure whether or not it's time for you to buy or sell, be sure to contact our North Raleigh real estate agents! We are here to help you make a decision!
Roark Premier Team | North Raleigh Real Estate
If you’re considering buying a home in Raleigh, contact our real estate agent at Roark Premier Team, today! It's time to get started with the process of searching for your dream home! In addition, we will work with you, until you find your next home! So what are you waiting for? Call now! At Roark Premier Team we have North Raleigh real estate agents standing by to help you get your home sold during one of the busiest times of the year for real estate!