How North Carolina’s Housing Crunch Is Shaping the Search for Affordable Homes
Prices climbed steadily as demand surged, fueled at first by record-low mortgage rates. When rates rose later on, the frenzy cooled, but affordability remained a challenge. Even as of 2023, prices were still rising year-over-year (up ~4.4% from 2022). Shutterstock This means buying a home became much less affordable for the average family over that time. Sales Activity Fluctuations Home sales activity fluctuated significantly during this period. When COVID-19 hit in 2020, homebuying paused briefly, then surged....