Some buyers are waiting on the sidelines hoping that the “bubble” will burst. Have you asked yourself why so many other buyers are still buying right now? Well, they have done their homework and see the equity opportunity that is available today in Asheville, N.C.
The continuing underproduction of new homes being built is part of why we are having a supply vs. demand issue nationwide. Furthermore, millennials are now moving into the home-buying market which is adding to the inventory deficit. This is why economists are not anticipating prices to go down anytime soon and a crash is even more unlikely. Here is what chief economist Lawrence Yun of NAR said in July’s REALTOR publication.
“Homebuilding activity in 2021 will be slightly above historical norms. But it will take at least a few years to correct the massive shortage. In the meantime, we expect the national median home price to rise 9% this year and another 3% in 2022.”
That is a national average and significantly lower than the 15% increase we saw here in Buncombe County over the past 12 months. With N.C. being a top migration state, Asheville is a good investment. Simply put - don’t wait. Secure your piece of WNC before you find yourself paying more and missing out on the instant equity opportunity.
Call us or book an appointment online and we can chat through this in more detail to see if NOW is the right time for you!
