High Country Association of REALTORS News

Why Buy Now: Three great reasons to find your High Country home today

Kids playing on  a tire swing in the mountainsIs now the time to buy?

That’s the question hanging over the national real estate market. It has no simple answer. While sales are slowing a bit, surveys reveal sellers and buyers still believe now is a great time to purchase that new home. Perceptions help fuel reality.

Here are three reasons to get excited about the housing market, starting with strong consumer sentiment ….

No. 1 – Americans are optimistic
A late April Gallop poll reports asked respondents, “Is now a good time or a bad time to buy a house?” A huge majority, 74 percent, answered in the affirmative. According to Dennis Jacobe, chief economist with Gallop, “There appears to be good reason for more than two in three Americans to think now is a good time to buy a house. Home prices have plunged in many markets across the country in recent years. The combination of today's low mortgage rates and low housing prices make affordability as good as it has been for a long time.”

With buying never better, it should help release ….

No. 2 – Pent up demand
The same Gallop poll also asked, do you own a house? Only 62 percent said yes. That’s the lowest rate recorded since Gallop began asking the question in 2001, when 67 percent answered affirmatively. (That figure was 68 percent in 2011.)

Yet Americans, in the same poll, think demand for homes will increase. When asked whether home prices would rise in the next 12 months, 33 percent said yes versus just 23 percent saying no. One year earlier the same question resulted in a 28 to 30 percent result.

So homeownership is at 10-year low, yet people see home prices rising soon. That should translate to potential sales. And that optimism is being reflected locally as ….

No. 3 – High Country housing supply continues to grow
Local sellers are increasingly optimistic that buyers are coming. The number of new properties added to the High Country Multiple Listing (MLS) service has increased every month since December 2011. An average of 310 new properties have been put on the market since then, peaking in May at 498 new listings.

May has traditionally been the busiest month of the year for new local listings. Many of these properties are debuting in this issue of the Official Real Estate Magazine of the High Country Association of Realtors. The variety of properties couldn’t be greater.

Now’s the time to invest in Living the Dream in the High Country of North Carolina.

New MLS listings in the NC Mountains