(WGHP) — Home prices are on the rise in most major North Carolina cities, and sales are expected to decrease in most of the Tar Heel State as well, according to Realtor.com. Realtor.com’s data is based on their projections for year-over-year growth.
The largest projected growth in price for 2024 is in the Durham-Chapel Hill area in The Triangle. A 5.8% increase is currently projected. Sales are predicted to decrease by -1.5%. The second largest projected growth in price for 2024 is in the Hampton Roads metropolitan area that covers Virginia Beach and extends down into northeastern North Carolina at 5.3%.
It is the only major metro where home sales are projected to increase by 0.3%. Home prices are also on the rise in the state capital of Raleigh, where a 3.6% increase in housing prices is expected. A massive -17% decrease in home sales is being predicted in the City of Oaks.
Housing prices are also predicted to rise in the Greensboro-High Point area by 3.3%. Home sales are expected to go down -1.2%.
Albeit by a small amount, housing prices are expected to rise 0.3% in Winston-Salem. However, home sales are expected to decline -8%. The Charlotte-Concord area which extends into South Carolina is the only major region of the Tar Heel State where housing prices are predicted to dip at -0.9%.
The largest dip in home sales is also seen here at -22.4%.
Source: 10 On Your Side
