Understanding Trends in Real Estate

June 05, 2024

Navigating the real estate market can be a daunting task, especially with the ever-changing trends and market dynamics. The Rodney Carroll Team continuously educates itself on these trends for the benefit of its clients, whether buying, selling, or both. By being experts on both the national and local markets, the Rodney Carroll Team can anticipate changes, helping its clients adjust expectations and goals accordingly.

When focusing on real estate trends, what factors are most important?

Supply and Demand: Supply and demand affect the real estate market more than any other data point. Put simply, if there are fewer available homes for sale, prices are driven upward and vice versa. Understanding if a market is a seller’s market (high demand, low inventory) or a buyer’s market (low demand, high inventory) is essential. Just as important? Having the knowledge to predict which way the market is going.
Economic Growth: Central North Carolina continues to show high economic growth thanks to thriving education, technology, and biotech markets. As leading companies relocate operations or headquarters to this area, the demand for a variety of housing options increases.
Infrastructure: When a specific area foresees a rise in residents and businesses, infrastructure is often proactively improved. The Rodney Carroll Team pays close attention to projects submitted to local planning and zoning boards to stay in touch with such growth. Upgraded schools, highways, retail centers (and more) all point to a real estate market that will continue to thrive.
Technological Integration: With so many tech-driven employees relocating to North Carolina, it is no surprise that local real estate transactions are now possible via digital tools. From virtual tours to digital closings, finding a new home digitally is quickly becoming a popular option. Within those homes, smart features are no longer a nice option but rather a must. In addition to smart thermostats, automated lighting, or EV charging stations, today’s buyers demand it all.
Sustainability: While consumers demand a higher level of technology within their homes, they also aim for lower carbon footprints. Eco-friendly homes with energy-efficient features are a trend that is here to stay as they provide a reduction in utility costs while also offering a nod to the beautiful environment that North Carolina provides. For success, developers and design teams must incorporate green features into their projects.
Shifts to the Suburbs: Similar to national trends, central North Carolina is experiencing a shift towards suburban living. Areas surrounding major cities have become popular choices for homebuyers seeking more space to spread out. Still, the ability to reach those major cities quickly is also a must-have amenity. Developers have taken notice and are building new at every price point, nestled within the rolling countryside yet convenient to major infrastructure.

Working with a seasoned realtor means having an ally who monitors trends in real estate for you. A partnership with a group such as the Rodney Carroll Teams means having access to up-to-date developments in the local real estate market. In a region well-known for its high quality of life, incredible job market, and endless educational options, North Carolina shows no signs of slowing down. The Rodney Carroll Team is made up of people who live here and work here.

What are your real estate goals? Are you a buyer, a seller, an investor, or a combination of all three? No matter which direction your real estate needs are taking you, the Rodney Carroll Team is armed with critical market information to lead the way!