GREENSBORO, N.C. (WGHP) — Greensboro realtors say the housing market has needed a pick-me-up lately, and thanks to two major companies moving to the Triad, the market may go up sooner than later.
Kelly Marks, a realtor with RE/MAX of Greensboro, said he believes the time is now to buy a home or start to look if you’re in the market for a house.
“Buy a home now because, given the demand of the people coming in and the people finally discovering the Triad area, there will certainly be more demand,” said Marks.
Marks said as the major companies start to build assets in the Triad, home builders will follow big economic news. He said builders who want to up their margins will follow the money.
“The market is going to have to respond with builders coming in to help. We’ve got water and sewer capacities, we’ve got very reasonably priced land, and I think we’re gonna have to look at builders as far as really contributing and now being able to forecast,” said Marks.
Marks said homes are built roughly in 6-8 months with the strain of supplies due to COVID. He said as the housing market continues to recover from the pandemic, homes will be built faster.
“What this is going to do is certainly, put a strain on that, but it will also give us time to respond and try to if you will “build up” some of our inventory,” said Marks.
Greensboro planning Director Sue Schwartz said they are ready for the influx of homes building. Schwartz said the city is working with developers to find ways to attract more people to live here, like adding more walkable spaces, expanding developing neighborhoods, and keeping the price point reasonable for the area.
“We’re always going to hope for infill development because we have the water and sewer lines and infrastructure in place. But there are the edges of the city to have more compact development and have more housing types around the edges,” said Schwartz.