In local real estate markets all across the United States, the average listing price for homes are soaring, with the supply of homes coming on the market at historic lows, as low mortgage interest rates continue to increase the purchasing power for potential buyers.
Many owners are finding themselves in a predicament about whether to stay put in their homes, or compete in the scorching real estate market to realize the gains from the increasing equity in their homes and purchasing anew before mortgage rates increase from their historic lows.
With property taxes likely to increase due to recent shortfalls in county and municipal governments due to the coronavirus pandemic, and the recent revaluation from the tax authorities in places such as Wake County and Orange County, homeowners are starting to feel the squeeze.