Written By: The Desiree Goldman Group With BOLD Real Estate
Dropping interest rates could lead to more housing supply! A big reason for higher home prices is the lack of inventory: The U.S. is short millions of units. This is not a surprise to us, since we have seen firsthand that supply has not kept up with demand in our local markets for years. The higher interest rates are hurting builders who are trying to get projects off the ground. The rates on loans that builders get for development and construction are intertwined with the rate set by the Fed. This rate cut should make it easier for those developers to get going again, and fingers crossed because we need it! For more, read this NPR piece on interest rates.
One of the projects we are most excited about is South Creek in Chapel Hill across from Southern Village. This community will feature for sale condos and townhomes, apartments, mixed-use retail and office space.
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