FAYETTEVILLE, NC – Longleaf Pine REALTORS® Association hosted the 2024 State of Real Estate Luncheon, where they invited the industry’s top thought leaders to share insights into the housing market’s future. Held on February 13, the event featured keynote speakers Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS®, and Loren Hill, Regional Economic Development Director for the NC Carolina Core, who provided invaluable analysis to over 300 real estate professionals in Fayetteville.

The speakers shared positive news on North Carolina’s job creation and thriving communities across the state, reinforcing our community as being a great place to live, work, and raise a family. 

The lack of inventory continues to be a top challenge statewide and in the region, particularly for existing homes. Locally, there is a trend toward greater availability of new homes. The good news for homeowners in North Carolina is that home prices appreciated 58 percent between 2020 and 2023. However, the spike in appreciation makes affordable and first-time home buying a greater challenge. 

“Dr. Yun’s visit to our region to share important market trends and insights will help our community, our members, and their clients understand the details of our local market as they consider home-buying prospects in the year ahead,” said Megan Gerber, President of Longleaf Pine REALTORS®. 

Dr. Yun and Loren Hill highlighted the association’s commitment to facilitating informed decision-making in real estate transactions by providing local expertise. This dedication to industry leadership positions Longleaf Pine REALTORS® as trusted advisors, setting the standard for industry knowledge and insights. They provided context and highlights of the evolving market: 

• Job Market: Total payroll job numbers in the U.S. are up by 5 million compared to pre-COVID-19 levels. Forecasted long-term job creation is anticipated to be a driving force for real estate purchases in the state.

• Job Creation: North Carolina showed a 7.6 percent increase in job creation since 2020 and successfully created 49,201 office/industrial jobs, surpassing the goal of 50,000 by 2038. 

• Megasites: Added a potential fifth megasite to the list of promoted industrial real estate opportunities within the NC Carolina Core. 

ABOUT Longleaf Pine REALTORS® ASSOCIATION

Created in 1946, Longleaf Pine REALTORS®, Inc. stands as a premier professional real estate trade association, representing the interests of over 2,500 REALTOR® members and business professionals. Its mission is to empower its members by providing essential tools and resources, fostering an environment conducive to their success in the dynamic real estate industry. Learn more at https://www.longleafpinerealtors.com/.