Earlier this month, the Wake County Register of Deeds released data from their office indicating a continued rise in real estate values through the second quarter of 2018.
“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.”
Source: Wake County Register of Deeds