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July 06
Wake County Real Estate Value Continuing To Rise In Second Quarter 2018

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Friday, July 6, 2018
For Immediate Release

Contact: Luther Snyder, Deputy Director
O. 919-856-5462 M. 919-369-7045
luther.snyder@wakegov.com

WAKE COUNTY REAL ESTATE VALUE CONTINUING TO RISE IN SECOND QUARTER 2018

Raleigh, NC – During the second quarter (Q2) of 2018, Wake County is continuing to see upward trends in the real estate market.

The April - June three month average Deed Volume (property sales) enjoyed an increase of 3% compared to the same time in 2017. During this same period the excise tax on the real estate sold was up an average of 8%.

The rise in excise tax is a continuation of net year-over-year increases as seen in both Q1 2018 and Q1 2017. The increase in Deed Volume contrasts to a year-over-year decrease of 4% during Q1 2018.

Deeds of Trust or better known as mortgages on real estate, saw an average volume decrease of 3% compared to Q2 of 2017. As we continue to see, interest rates have been held historically low for a long period of time and refinances have been down for over a year and a half, it appears refinance demand was largely absorbed prior to 2017.

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