Since the beginning of the year, the median real estate sale price has gone up every month in Wake County, according to a report from the county Register of Deeds.
The increases in home prices are due to multiple factors, said Roberto Quercia, a professor who studies low-income homeownership at the University of North Carolina at Chapel Hill’s Department of City and Regional Planning.
He said the region’s limited housing supply, low interest rates increasing demand for mortgages, and the high cost of lumber have contributed to increasing home prices over the last several months.
“This is kind of the perfect storm,” Quercia said.