Area's Rising Home Prices Not Always Good News
Posted February 14, 1998 6:00 a.m. EST
RALEIGH — As in all financial transactions, the rise in price of existing homes over the past year is good news if you are a seller. Buyers, particularly first-timers, have a different view.
According to recently released statistics, existing homes in this area rose in price more than 2 percent last year. The median price is now pegged at $154,000.
That price is too high for some shoppers, especially people who are looking for their first home.
One good point, of course, is that mortgage rates are extremely low and that is good news for everyone.
Still, agent Sharon Sisk says she knows some people are daunted by the higher prices, and they would be more comfortable in a $100,000 - $120,000 range. Homes in that price range, and in good condition, are snapped up quickly.