Author: Jean-Paul Peron

US home prices ↑~0.3% MoM on a seasonally adjusted basis in Mid-Q3, extending gains while easing slightly from the prior two months.
Yearly, US prices ↑~4%, the fastest growth pace in 12 mo, showing values kept climbing nationwide even as monthly momentum cooled recently.
Mid-Q3 brought the strongest buyer's market on record, as elevated housing costs and economic uncertainty kept demand subdued while homes for sale continued rising.
Even with softer monthly readings, prices were not falling nationally because many homeowners held substantial equity and faced little pressure to accept steep discounts.
For buyers, slower growth meant room to wait, compare, and negotiate; for sellers, realistic pricing from the start offered a better chance to attract attention.

North Carolina has shifted into a buyer's market, with inflation, mortgage rates, and boomers staying put cited as key drivers in current conditions.
For North Carolina buyers and sellers, this shift changes negotiating dynamics, making it important to understand how current conditions can shape timing and expectations.
The discussion also highlighted condo sale requirements, signaling that transaction rules remain an important part of navigating North Carolina deals beyond pricing alone.
Appraisals were another focus, underscoring how valuation standards can influence North Carolina transactions in a market that has recently tilted toward buyers.
Measuring square footage was also discussed, a reminder that accuracy and evolving requirements matter for North Carolina buyers, sellers, and professionals alike.

There’s been some buzz about how data centers might be shaping the housing landscape, but a recent study paints a much more nuanced picture. The research found there’s no one-size-fits-all impact—local economies, existing infrastructure, and demand make all the difference. In fact, US counties with 10 or more data centers did see stronger home-value growth and higher median prices, though these were often tech-focused areas with robust job markets and higher incomes even before data centers arrived. Most counties—over 90%—don’t have data centers at all, and REALTOR® experiences remain mixed. Many buyers are asking about electricity costs, water usage, and whether local infrastructure can keep up. The most noticeable benefits have been on the commercial side and in boosting local economic activity, but there’s no clear evidence that data centers alone drive residential values up or down. In unique markets like ours here on the Outer Banks, it’s a reminder that every community’s story is its own. My approach remains rooted in understanding what really moves the needle for our local market, always with your best interests at heart.

Builder confidence across the U.S. has dipped to its lowest point in a year, with the builder-confidence index sliding 3 points to 32 in late Q3. Sales conditions and six-month outlooks have both softened, while buyer traffic remains steady at 23. Notably, 38% of builders nationwide have cut prices, and a growing majority—now two-thirds—are turning to incentives to help buyers make the leap, up from 63% earlier in the quarter. Mortgage applications for new homes have now declined for the fifth consecutive month, as average 30-year rates linger in the high-6% range. Larger builders are increasingly offering rate buydowns, helping buyers secure more favorable mortgages even as the broader market faces pressure. Forecasters expect these elevated rates to stick around through at least 2027. As someone who’s spent nearly two decades helping clients navigate the distinct Outer Banks real estate landscape, I know how shifts like these can influence buyer and seller strategy here in Carova—where unique properties and market conditions call for a truly tailored approach.

Housing affordability is at the center of many conversations right now, and it’s something I watch closely for my clients here in Carova and across the Outer Banks. We’re seeing signs of housing disinflation nationally—buyers and sellers aren’t always meeting eye to eye, and more sellers are making concessions that could mean real savings for those determined to find their place in the market. However, borrowing costs remain the biggest challenge: with benchmark Treasury yields near 5% and average 30-year mortgage rates topping the low-7% range, financing continues to stretch affordability. In the four weeks ending September 13, the median monthly mortgage payment hit about $2,600, up roughly 3% from last year. Inventory is tight as many homeowners are holding onto their low-rate loans, and sellers are still aiming for those pandemic-era prices. Industry experts agree that this isn’t a crash, but rather a correction toward stability—with strong equity, responsible lending, and opportunities for both buyers and sellers. In our unique Carova market, my focus remains on strategic guidance and local expertise to help clients make sense of these trends and find the right path forward.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.