The pace of the housing market recovery in the U.S. and the Greater-Triangle area over the last few years has been incredible, and the rebound of the market is providing homeowners with more options than at any point in the last eight or nine years, according to Linda Craft, CEO of Linda Craft & Team, REALTORS® & Certified Distressed Property Expert (CDPE)
“The last several years have been a roller coaster for homeowners in the Raleigh, Durham, Chapel Hill area and around the country. First came the crash, and millions nationwide saw the value of their homes plummet overnight,” said Craft. “Recently, however, the housing market has improved dramatically. Home prices in our area and demand are up, providing homeowners thinking of selling their home with more options than at any other time in recent years.”
From 2011 to 2014, the national median home price increased by about 20 percent, according to the investment firm BlackRock1. With the large increase in home prices, millions of homeowners who found themselves underwater on their mortgages during the housing market crisis have regained equity.
Today, the housing market continues to recover, though more slowly. Home prices are increasing at a more sustainable rate, as Craft further explains, “Going forward, we should see prices increase more in-line with wage and job growth. So for homeowners who have been waiting to sell until the market recovered, now may be the perfect time. Mortgage rates are rising, but are currently still at near historic lows. Homebuyers will have less buying power as the year goes on.”
As a Certified Distressed Property Expert® (CDPE), Linda Craft is specially trained to help distressed homeowners understand their situation and explore the options available to them. “No matter what your situation has been, it’s like significantly improved. Today, homeowners have more options than at any other time in recent years,” Craft said.
Contact: Linda Craft