Home values are forever in flux.
Usually, home values appreciate in the long term.
But, of course, there are no guarantees in real estate.
When your home appreciates you have a greater asset to borrow against, and you'll realize a greater profit when you sell.
But how can you be sure what you're investing in now will appreciate over time? Property values in Cary rise and fall for a variety of reasons.
The most important part is that you pick a REALTOR® in Cary who is familiar with the factors that influence local prices.
Many assume that the economy is the most influential factor affecting real estate appreciation.
there are several factors on a national level that influence your house's value: unemployment, interest rates, quarterly earnings reports, and more.
But the most significant issues that determine your home's value are particular to the local Cary economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is important to many us and will greatly influence home values.
So those areas usually appreciate, or keep their value consistently, year to year.
Recent sales - Your agent should give you stats on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the neighborhood is believed to be?
Local economy - Is there a nice mix of business in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring?
These items play a role.