Monday Morning Coffee March 1 2021
Hi. Happy Monday morning to you and your family, wherever you may be on this beautiful March the first here in Wilmington, North Carolina. My name is Buddy Blake, and we're here with Waypost Realty, which we're now brokered by EXP Realty. If you have any needs for real estate or anything like that, no matter where you are in the United States, we are now able to help you, not just in our area, but we can also help you with an agent in your area as well. Anyway, the market here in Wilmington continues to be busy. We have seen our first week of leveling out with inventory. And there are some charts below that I'll be going over and you can take a look at. But you'll see in Wilmington, our inventory levels have stabilized. Last week was the first week we've seen where we didn't lose inventory, wherein other words, we sold more houses than came on the market, which is good.
Maybe we've kind of bottomed out on that end. We still have a tremendous amount of buyer demand. Interest rates have gone up. They're over 3% again now in most cases, and so that is slowing some things down. And plus it's been really nice weather, so a lot of people have been out doing things other than sitting in their house and looking at homes. So they're getting out energy, seeing surfers out, seeing people running, walking their dogs, everything else. So springtime is almost here. Seeing a lot of leaves, seeing a lot of stuff like that around Wilmington. We expect a very busy spring and summer year. Home sellers are starting to put their homes on the market. We got more calls last week than we've had all year so far for people wanting to sell their homes. And they are going to be putting their house on the market because now they're getting more comfortable with COVID as far as letting people in their house.
And they also don't want to miss the market to sell their house, because once interest rates get up again 3 1/2, 4%, you're going to see the buyer activity slow down. It just will, because the buyer's buying power goes down significantly when you go up a whole point in interest. So, and there's going to be, just like in times of the past when you've had the high markets, everybody all of a sudden floods in after the market kind of peaks, so it'll be the same way this time. People just trying to time it and think they can hit it perfectly. So, which is really hard to do, even for somebody like me that does this all the time, I still mess up. So anyway, if we can help you, let me know. Take a look at the charts below. If you have any questions on these or you'd like us to run something a bit more specific for your neighborhood or your area, all you got to do is shoot me back an email and let me know.
And if you are thinking about getting in real estate and you're in our area, or actually anywhere in North Carolina now, let us know and we are looking for people to join our team. We've got way more opportunity than we can handle, which is phenomenal. But we're growing, and we're expanding and we now have some really cool stuff that we can option through the EXP platform, which is the reason we joined them. Things like retirement planning with stock options. There are also health insurance options that we now have the opportunity for, which we didn't have before. Anyway, if you'd like to learn more about our team, how we work, or EXP, or anything like that, shoot me an email, or you can watch some of the little stuff down below. Thank you so much. Have a great week and look forward to seeing you next week, or talking with you on the phone. Thanks.
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