Luxury Market Outpaces Mid-Market, While Interest Rates Continue To Rise.
Market conditions across Western North Carolina continue to hold steady and, in some cases, have shown a jump in sell-through along with showing activity in both mid-market and luxury segments. We do expect to see continued pressure on the mid-market sales activity heading into the fourth quarter as this price point is much more sensitive to rising interest rates than the luxury space. While interest rates continue to rise for the foreseeable future, many buyers are closing transactions with cash and forgoing a mortgage altogether.
