CHARLOTTE — A new Zillow study shows that housing prices are slowly leveling out but homebuyers need to strike now, as expert says prices in and around the Queen City could be on their way back up.
Reporter Erika Jackson spoke to Marine Corps veteran Shane Harden who said he’s thrilled to call Fort Mill his home. He was stationed in five states before retiring in South Carolina. With house moves, came different homes.
“Kind of rinse, wash, and repeat every time we moved duty stations,” Harden said.
Harden said he found his latest move to be the most stressful.
“We looked, to see ‘Have we peaked? Should we wait? Should we sell our home? Wait for a little while for the prices to come down?’ he said.
Mike Sposato, the owner of Carolina Realty Advisors, told Jackson now is a really good time for buyers.
Fortune Magazine reports that Zillow found housing prices will go up by 6.1% in the Charlotte metro area by next summer.
Zillow also found home values are expected to go up 2.4% nationwide.
“Real estate is a very local game. What we’re doing here in Charlotte is going to be very different from what they’re doing in Syracuse, New York,” Sposato said.
Sposato said the market is healthy, yet competitive, citing limited inventory.
“The problem was when we started looking, things were going quickly,” Harden said.
Harden is getting ready to move his family into their dream house. He says the journey wasn’t easy, but his new home will be worth the wait.
“I would encourage people to be a little patient. Don’t regret a decision because It’s a big decision,” Harden said.
Sposato’s advice for potential home buyers is to contact a realtor if you’re considering buying a home and get pre-approved for a mortgage before you start your search.
(WATCH BELOW: ‘It is scary’: Scammer lists Concord man’s house for sale on Zillow)
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