Cary Housing Inventory Low Supply

Real Estate News

Sign up to receive local real estate content in your inbox.

(at most once a week, we hate spam too)

We don’t spam! Read our privacy policy for more info.

Sell My House In Cary | House Prices: Simply a Matter of Supply & Demand

Why are Cary, NC home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as:

“the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”

When demand exceeds supply, prices go up. This is currently happening in the residential real estate market.

Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available):

House Prices: Simply a Matter of Supply & Demand | MyKCM

In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has decreased. If this situation persists, home values will continue to increase.

Bottom Line

The reason Cary home prices are still rising is because there are many purchasers looking to buy, but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick for some time.

Recent Posts

Posted in ,

Justin Hemker

Justin Hemker is a North Carolina licensed real estate broker whose real estate experience dates back to 2003 when he was first licensed in Michigan as a real estate salesperson. Almost two decades later, Justin has seen how the industry has changed from paper MLS books and print-marketing, to the digital-dominant marketing of today. Putting his Web Technologies background to work, Justin strives to bring the highest caliber of real estate service to Triangle-area home buyers and home sellers of every price point.

Leave a Comment