Beat the Spring Rush: Why Now is the Perfect Time to Buy a Home in Raleigh and Surrounding Areas

Why You Should Buy a Home in Raleigh and its Surrounding Areas Before Spring

Spring is the busiest season in the housing market and many buyers believe it's the best time to find a home. However, with the surge of buyers, you could face intense competition. If you're ready to buy a home in the Raleigh and its surrounding areas, here's why it makes sense to move before the spring market picks up.

Affordability Improving and Demand Low - for Now

With the average rate on the 30-year fixed rate mortgage at 5.99% (according to Mortgage News Daily), affordability is beginning to improve in the Raleigh housing market. Despite this, demand remains low for the moment, which is why now is the best time to take advantage of the low demand. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares that the market can expect sales to pick up again soon due to the decline in mortgage rates after peaking late last year.

Low Demand Equals Motivated Sellers

With fewer buyers in the market, sellers in Raleigh and its surrounding areas are more motivated to work with potential buyers. In the fourth quarter of last year, sellers gave concessions to buyers in 41.9% of home sales (according to Forbes). If you're ready to make a move, it's important to act now while sellers are still motivated to work with you, as the advantages buyers have this winter won't last forever.

Why Raleigh and Its Surrounding Areas are a Great Place to Live and Buy a Home

In addition to its affordable and favorable housing market, Raleigh and its surrounding areas are a great place to live for a variety of reasons. With a growing economy, excellent schools, and a vibrant culture, there's no shortage of reasons to make Raleigh your new home.

The vibrant city offers plenty of opportunities for outdoor recreation, with parks, lakes, and nature preserves all just a short drive away. The city is also home to a thriving food and drink scene, with a wide variety of restaurants and breweries to choose from. Whether you're a foodie, an outdoor enthusiast, or just looking for a great place to raise a family, Raleigh has something to offer everyone.

The Bottom Line

If you're ready to buy a home in Raleigh and its surrounding areas, now is the time to make your move. With an improving housing market, motivated sellers, and all that the city has to offer, there's no better time to take advantage of the opportunity to make Raleigh your new home. Get in touch with a trusted real estate professional today to learn about the local market and start making your dream of homeownership a reality.

Take a look at the up to date Real Estate Market snapshot and Market trends in Wake County.