Home values are forever in flux.
Home values appreciate in the long term normally.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a bigger asset to borrow against, and you'll make a larger profit when you sell.
Property values in Cary shift for various reasons, so how will you know what you're buying this year won't depreciate the day after you close?
The most important part is that you choose a REALTOR® in Cary who knows the factors that drive local prices.
What is the most critical factor impacting real estate appreciation? Many think that it's the economy.
It goes without saying that
interest rates, employment, job growth, government programs and some other national factors have a noticeable influence on your home's worth.
But the most important factors that determine your house's value are particular to the local Cary economy and residential market.
Access to services - Proximity to schools, jobs, and amenities also have a great influence on almost all home buyers' choices.
So those areas often appreciate, or hold their value, best.
Recent sales - Your REALTOR® should provide you with stats on the recent home sales in the neighborhoods that you're asking about. 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 community is thought of as?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of work in an area, or does it rely on just one industry?
All these play a part.