Local Real Estate Market Still Roaring

The Morning News reported that the Pee Dee Real Estate Market is still roaring from the effects of the pandemic. Homes now stay on the market more than 50 days less. Inventory of homes are down 17% which has driven prices up by 20%.

New home building has not escaped the pandemic’s ill effects either, with lumber prices sky rocketing.

The good news is that interest rates are still very low. Most economist believe that the surge in prices will decline and slowly return to somewhat normal. And, lumber prices have already dropped by 45% in just a month. Prices may not immediately return to pre-pandemic levels but they are expected to slowly decline over the rest of this year.

Even with the flurry of current building activity, now is the time to begin planning your new home! Call Hopkins Builders today!