Southport Oak Island Realty Group, Inc

Worried About Home Prices and Where They Are Going?

estimatedHomes prices over the next few years in southport nc
  • If you’re worried about what’s next for home prices in Southport NC and Oak Island NC areas, experts are projecting they’ll continue to rise at least through 2028!!!
  • Based on that forecast, if you buy a $400,000 house this year in Oak Island NC or Southport, NC, experts say it could gain over $72,000 in equity over the next five years.
  • If you are worried about falling home prices, do not be. Experts keep stating that they’ll keep rising for years to come. If you want to know more, ask one of our local real estate agents at Southport Oak Island Realty Group. We are now known as the Real Estate experts in the Southport NC, Oak Island NC and Bolivia NC areas!
  • Did you know that Brunswick County NC is now the number one fastest growing county in the United States?
  • We are Realtors here to help you purchase the property you want, at the right price!

If you are thinking about buying or selling you Southport NC or Oak Island NC home soon, you probably want to know what you can expect from real estate and housing market in 2024. In 2023, higher mortgage rates, confusion over pricing, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move.

But what is on the horizon for the Brunswick County NC Real Estate Market in the new year????

The good news is, experts are optimistic we have turned a corner and are headed in a positive direction as far the future of the real estate market in the Brunswick County North Carolina and specifically the Southport NC and Oak Island NC areas!

Mortgage Rates Expected to begin to Ease in 2024, and have already!

Recently, mortgage rates have started to come back down. This has offered hope to buyers dealing with affordability challenges.

Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), states:

“For home buyers who are taking on a mortgage to purchase a home and have been wary of the autumn rise in mortgage rates, the market is turning more favorable, and there should be optimism entering 2024 for a better market.”

The Supply of Homes for Sale in Brunswick County NC Will Grow

As rates ease, activity in the housing market should pick up because more buyers and sellers who had been holding off will jump back into action. If more sellers list, the supply of homes for sale will increase! We have already started to see this year, and its only January!  On top of that, Brunswick County NC, Southport NC, Oak Island NC and Bolivia NC have massive amounts of new home construction.

Home Price Growth Should Begin To Moderate

Mortgage rates pulling back is not the only positive sign for the Brunswick County NC housing market. Home pricing, even in the rapidly growing Southport NC, Oak Island NC and Brunswick County NC area is expected to moderate too, as inventory improves but is still low overall.

In summation, experts project 2024 will be a better year for the housing market in Southport Nc and Oak Island NC. So, if you’re thinking about making a move to Brunswick County NC this year, know that early signs show we’re turning a corner.

So What Is The Bottom Line?

Experts are very optimistic about what 2024 holds for the housing market. If you’re looking to buy or sell a home in the new year, the best way to ensure you’re up to date on the latest forecasts is to partner with a trusted real estate agent at Southport Oak Island Realty Group, Brunswick County’s Top Real Estate Agency. Proudly Serving Southport NC, Oak Island NC, Boiling Spring Lakes NC and Bolivia North Carolina.

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Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

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