Last Updated on September 12, 2025
Howard Hanna Allen Tate Real Estate Chairman Pat Riley welcomes a return to a “healthy market”
The Carolinas’ real estate market is starting to return to a healthy place, and that means strong momentum for buyers and sellers who have been sitting on the sidelines.
“In the past few months, we’ve started to see a change in several market dynamics,” said Pat Riley, chairman of the recently rebranded Howard Hanna Allen Tate Real Estate, in the September edition of Carolinas Market Update.
“The low, low interest rates, bidding wars and double-digit appreciation that we saw a few years ago were not healthy market dynamics, and simply, not sustainable,” Riley said. “Where we are today looks a lot like the market in 2019 – before Covid and the crazy market frenzy that followed.”
Riley noted that inventory is up, which means buyers have more properties to see and less urgency to offer contracts.
“More time to find the right home is healthy,” Riley said.
Because there is more competition, days on the market are up, Riley said. But at just a little more than two months, we are not near the 6-month criteria that would signify the shift to a buyer’s market.
A market rebalance doesn’t signify depreciation. Homes are still appreciating at 2-4 percent annually, so sellers are still winning. Riley mentioned that there have only been two instances in the past 30 years where home prices depreciated—a pretty good track record for an investment.
“What we’re seeing is buyers and sellers coming together to negotiate the sale and purchase of a home. That’s exactly what’s supposed to happen,” Riley said.
Consumers should also expect to see interest rates remain in the low-to-mid 6’s, which is below the historic average of 7.29 percent.“Sellers need to price their home realistically for today’s market. The price your neighbor sold their home for in 2022 or 2023 is not relevant,” Riley said. “80 percent of homeowners believe their home is worth more than the market.”
Buyers should not put off purchasing because they are waiting on lower interest rates. Refinancing is always an option if rates drop, and the price of homes will continue to appreciate.
“Overall, we’re in a good place. The Carolinas continue to see in-migration from other markets. A recent study from the Charlotte Regional Business Alliance revealed that 157 people per day are moving to Charlotte. That’s up from 117 per day, just a year ago. And that’s only one of our markets in the Carolinas,” Riley said.
“For more than 68 years, we’ve been helping families achieve their homeownership dreams with superior service and deep local expertise. Our promise to you is a homeownership experience that is different from all others.”
Carolinas Market Update is targeted to consumers in the Charlotte, Triad, Research Triangle, High Country, Highlands/Cashiers, and Asheville/Mountain regions of North Carolina, and the Upstate and Lowcountry regions of South Carolina. It is produced every other month by Howard Hanna Allen Tate Real Estate and features information, statistics, trends, and predictions about the real estate market in North and South Carolina. Howard Hanna Allen Tate Real Estate is the #1 real estate company in the Carolinas, with more than 80 offices and 1,800 agents serving communities across North and South Carolina. As part of Howard Hanna Real Estate Services, the largest family-owned and operated real estate company in the United States, Howard Hanna Allen Tate offers a full suite of real estate services, including mortgage, insurance, title and relocation. For more information, visit www.howardhannatate.com.
