The Real Deal on Affordability These Days

Let’s have a little come-to-Jesus meeting about the housing market. If you’ve spent any time scrolling through Anthem, Zillow, Realtor or any of the other listing sites lately while weeping gently into your morning coffee, you deserve someone who will give it to you straight. No corporate jargon, no fluff—just the honest truth about what it actually takes to buy a home around here right now.

Because let’s be real: while mortgage rates are the flashy villain everyone loves to hate, they aren’t the only character in this tragic comedy we call “affordability.”

If you're looking to plant some roots in Johnston, Harnett, Southern Wake, or Cumberland County, here is the good, the bad, and the downright volatile truth about what’s going on.

1. Mortgage Rates are Riding a Rollercoaster (And Someone Kept Changing the Track)

We all had a nice little moment where rates were trending downward, and we dared to dream. Well, wake up, because they’ve decided to climb again. Why? Because the economy thrives on stability, and right now, the global stage has all the stability of a toddler hopped up on Mountain Dew.

With lingering international tensions and inflation sticking around like that one houseguest who won’t take a hint, mortgage rates have felt the pressure. As the financial experts put it: you can't have expensive oil and unpredictable inflation without bond yields—and mortgage rates—spiking in response.

So, what does this mean for your dream of owning a little piece of Benson, Lillington, Fuquay-Varina or Angier?

You might be asking, "Should I just wait it out? Will rates drop if things calm down?" Maybe. But unless inflation suddenly takes a permanent vacation, experts say we aren’t looking at a dramatic drop anytime soon. If they do settle, we're likely looking at the low-to-mid 6s. So if you’re waiting around for 3% rates to make a comeback, you might also want to start waiting around for Fayetteville to build a beachfront.... it ain't happening.

The takeaway: If you find a house you love in Dunn, Smithfield, or Lillington, and you can comfortably afford the payment today, buy it. Life is too short to put your future on pause for a percentage point that may or may not move by next spring.  And with the growth this area is seeing, you'll immediately start to build equity (real estate speak for value of your home being worth more than you paid for it).

2. The Plot Twist: Wages Are Actually Winning the Race

Every time you turn on the news, it feels like a competition to see who can write the most depressing headline about the cost of living. And yes, going to the grocery store still feels like a minor financial trauma. But here’s the plot twist the doom-and-gloom headlines are ignoring: wages are out-pacing home prices right now.

Nationally—and heavily reflected in our booming local job markets—wages have been climbing at around 4% year-over-year, while home price growth has slowed to a much gentler 2%.

When your paycheck grows faster than the price of the house you want, that’s a massive win. It means that while the market still requires a healthy budget, the math is quietly shifting back in your favor, chipping away at that affordability wall day by day.

3. Home Prices Have Stopped Acting Like Rocket Ships

Remember a few years ago when local home prices were skyrocketing so fast it gave everyone whiplash? Fortunately, that fever has broken.

Looking at the broader data, existing home prices have spent the last few years doing something miraculous: they're staying steady. No dramatic spikes, no terrifying crashes—just slow, predictable stability.

A major reason things have leveled out in our neck of the woods—from the suburbs of Southern Wake down to the military communities in Cumberland County—is that inventory is finally making a comeback. Buyers actually have choices again.

Remember when you had to tour a house via FaceTime, waive every inspection, offer your firstborn child, and submit a bid 15 minutes after it hit the market? Those days are gone. More options mean less cutthroat competition, more room to breathe, and—blessedly—some actual negotiating power. You have the time to find a home that fits your actual budget and your actual lifestyle, rather than just grabbing the only house left standing.

The Bottom Line

Is the market perfect? Absolutely not. Rates are volatile, and global news is keeping things interesting, to say the least. There’s no sugarcoating the fact that buying a home takes strategy right now.

But affordability isn't just a single number on a mortgage chart. With steady home prices, more inventory, and rising wages, there are windows of opportunity wide open across Johnston, Harnett, Southern Wake, and Cumberland Counties.

Want to stop guessing and actually run the real numbers for your specific budget? Let’s grab a coffee (or something stronger) and chat. No pressure, no sales pitches—just a realistic look at how we can make the local market work for you. At Anthem we ALWAYS recommend talking with a lender to understand your big number (price of the house) and little number (monthly payment) and we have many lenders we can point you to to help.  Reach out today!