Statistics from Triangle Multiple Listing Service show a cooling housing market
READ MORE
Rent trap
Roughly one‐quarter of North Carolina renters are “rent burdened,” which means they pay more than 30% of their income in rent. That squeeze is crushing many renters’ home-ownership dreams. It’s also creating pressure on the rental market and inflating prices. While rents appear to be stabilizing, experts say, prices skyrocketed by as much as 50% in parts of the Triangle last year.
Expand All
The Triangle Multiple Listing Service’s monthly housing market report for December shows how much the market has cooled.
While the year started with prices soaring and houses disappearing from the market as soon as they were listed, by year’s end rising mortgage rates prompted a decline in number of sales closed and in final sales prices.
The figures that increased: number of houses for sale and number of days houses are spending on the market before selling.
This story was originally published January 18, 2023 at 6:00 AM with the headline "Statistics from Triangle Multiple Listing Service show a cooling housing market."
