RALEIGH -- As we launch into a brand new year, expect the housing market to also see some changes.
Economists expect the market to pick up moderately as mortgage rates rise.
According to Zillow, the median value of a home in North Carolina is just over $156,000. That's gone up 5.5 percent over the past year, and they expect it to rise 3.4 percent this year.
But MVB Mortgage Loan Officer Cathy Edwards says mortgage rates could reach upwards of 6 percent this year.
A free housing seminar is being offered on Saturday, January 21 from 9 a.m. until 1 p.m. at the Brier Creek Embassy Suites. Buyers and sellers are welcome to attend and can learn about how to buy or sell a home, how to handle purchasing with student debt, why your rent continues to increase and what to do if you don't have money for a down payment.
NOTE: Cathy Edwards is a North Carolina Housing and City of Raleigh Preferred Lender, NMLS #557382.