As we move into September, I’m keeping a close eye on some key housing market signals that are shaping our landscape here in Eastern North Carolina. Recently, pending home sales dipped slightly year-over-year, ending an eight-month streak of growth as rising borrowing costs have tempered buyer enthusiasm. Contract signings are also a bit softer, and homes are now taking about 60 days to sell. Mortgage rates have crept up from around 6% in late Q1 to the high-6% range, making buyers more cautious—but also giving them a bit more leverage. The median list price slipped to $424,500, roughly 20% of listings saw price cuts, and delistings actually fell compared to last year. Active inventory is up about 4%, but nationally, we’re still about 11% below typical pre-pandemic levels, highlighting the ongoing housing shortage beneath the surface.
For those thinking about buying or selling in our unique coastal and historic communities, this shifting landscape means pricing strategy and timing are more important than ever. I’m watching seller delistings, how sellers are approaching pricing, and whether regional trends will continue to even out as everyone adapts to these firmer borrowing costs. Navigating this market takes experience and local insight—two things I’ve built my career on here in New Bern and beyond.
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