Triangle Housing Prices Soar To New Heights
Housing prices continued their rise in May, and also hit a new record.
It's no secret that home prices in the Triangle have shot up. Year over year sales prices have increased for 37 straight months now.
But in April and May, the average sales price in the Triangle topped $300,000. A first for this area.
Sales data is compiled by the Triangle Multiple Listing Service. The record setting number looks at homes in Wake, Durham, Orange and Johnston, though not the outlying counties.
The higher dollar figures are good news for anyone looking to sell their house. But can make homebuying harder. Especially for the dozens of families that move to this area every day.
Housing experts generally agree that a market correction looms on the horizon. But nobody knows exactly when that will be. For now, homeowners are simply enjoying the seller's market.