Video shows desperation to find affordable housing
RALEIGH, NC (WTVD) — A North Carolina real estate agent posted a video on social media this week showing the reality of the housing market.
“I’ve told the truth, we have a housing crisis,” Monique Edwards said in the video. “This is a house priced under $300,000 in the Raleigh area, and as you can see, [there are] cars on cars on cars.
Edwards said the home she was showing was priced at $260,000. She thinks it’s a good time for her clients to understand why they should bid the way they do on a house.
“People are desperate for a house at a given price because people aren’t making that much money,” she explained.
“The offer is so scary now,” said homebuyer Tuan Nguyen, who made an offer on the house. “It’s obvious that everyone is trying to win this contract.”
According to the listing agent, the house had 30 offers the day after the viewing – all of the asking price, which is not uncommon in this market.
According to MLS, or Multiple Listing Services, in the Raleigh-Durham area, there were approximately 6,900 homes for sale before the January 2020 pandemic.
Fast forward two years and a pandemic, in January 2022 there were just over 1,800 homes for sale in the same area.
Current supply and demand has led to bidding wars and cash bids, which are difficult for buyers to compete with.
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