September 15, 2025 • 30 mins
The mortgage landscape is shifting as the Federal Reserve prepares for what many experts anticipate will be the first of several interest rate cuts. While the Fed doesn't directly control mortgage rates, these decisions send ripples through our local housing market that smart buyers and sellers can leverage to their advantage.
Henderson County's real estate market remains remarkably stable despite earlier higher interest rates, with a consistent 125 single-family homes selling monthly at an average price of $537,000. Recent weeks have seen mortgage rates drop to their lowest levels in over a year, offering a glimpse of what could become a trend if the Fed begins a cycle of rate reductions. For homebuyers, the numbers tell a compelling story – even a modest half-point decrease on a $400,000 mortgage translates to monthly savings exceeding $100, potentially making the difference between affordable and out-of-reach for many families.
Behind these market dynamics lies an even more fascinating story – North Carolina's extraordinary population growth. Having surpassed 11 million residents in 2024, our state added a remarkable 165,000 people in just the past year, ranking fourth nationally behind only Texas, Florida, and California. What makes this growth unique is that 95% comes from migration rather than natural increase. Henderson County perfectly illustrates this trend, growing to 120,000 residents despite experiencing more deaths than births. Our area's appeal to both retirees and younger professionals creates a diverse demographic tapestry that continues to fuel housing demand.
People choose North Carolina and specifically Henderson County for compelling reasons – our four mild seasons, stunning natural beauty from mountains to accessible beaches, outdoor recreational opportunities, and a cost of living approximately 5% below the national average. This combination of affordability and quality of life continues to attract newcomers from states like Florida, New York, California, and beyond, ensuring our real estate market remains dynamic even as it evolves with economic conditions.
Whether you're considering buying, selling, or investing in our unique market, understanding these broader economic and demographic trends can help you make strategic decisions. Connect with us to discuss how these factors might influence your specific real estate goals in Western North Carolina's ever-changing landscape.
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Transcript
Episode Transcript
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Speaker 1 (00:00):
Hello friends, thank you so much for being here.
This is the George Real EstateGroup podcast, which is a
production of our live weeklyradio shows hosted on multiple
radio stations here inHendersonville, north Carolina.
The George Real Estate Groupserves Western North Carolina
and upstate South Carolina andit is a privilege to share
positive news about our localreal estate market and community
(00:23):
.
Thanks so much for subscribingand, of course, if you have any
real estate questions or if wecan help you in any way, be sure
to reach out.
Visit us atgeorgerealestategroupradiocom
for more information.
Good morning and welcome to theGeorge Real Estate Group live
radio broadcast here in thequeue every Monday morning,
(00:44):
sharing with you positive newsabout your local real estate
market and community, and we'reso grateful to be here with you
this Monday morning.
Can you believe we're halfwaythrough the month of September?
And boy is time flying whenyou're having fun and it's
amazing how quick the summer'sgone by and it falls around the
corner and just football seasonand all the great things about
(01:04):
this time of year, the mild andbeautiful temperatures.
I've certainly been enjoyingspending time outside and I hope
you have as well, if you'retuning in.
For the first time ever, theGeorge Real Estate Group's
located Flat Rock, right next tothe Flat Rock Bakery.
Hubba Hubba BBQ, campfire Grill, hubba Lou, our friends at the
Wrinkled Egg all of our greatlocal and independent businesses
.
The George Real Estate Group islocal and independent as well.
(01:26):
We've had the privilege ofserving almost 1,600 families
throughout the years with theirreal estate needs, whether
buying or selling or investingin real estate.
We also have incredible agents.
We're growing.
We're hiring more agents.
If you thought about a careerin real estate the market we'll
jump in and talk about what'sgoing on in the market.
Before we do that, you canfollow us online.
You can follow us atrealestatebygregcom.
(01:48):
You can follow us on socialmedia Facebook and Instagram.
We also podcast all of ourradio shows.
You can find it on yourfavorite podcast platform, but
glad to connect with you any waywe can.
You can stop in our office andsay hello.
You can give us a call828-393-0134, 828-393-0134.
(02:08):
Just a quick snapshot Literallyover the last seven days in
Henderson County there's been 31new listings, there's been 66
price drops, there's been 55homes go under contract and 29
homes closed.
Now, this time of the month Imean typically there's less
(02:29):
closings than towards the end ofthe month.
It just seems to work out thatway.
But the market is absolutelystill moving, it's healthy and
we're averaging about 125, 126single family homes a month
selling over the last 12 months.
The 12-month average price inHenderson County is at $537,000
and change.
(02:49):
But if we look at the month ofAugust, what happened this
August versus the previousAugust, and then if we give a
snapshot of year to date throughthe end of August, versus the
same time period last year, wecan certainly learn a lot.
There was a 3.5% increase innew listings in the month of
August, but for the year, yearto date, we're at an 11%
(03:11):
increase.
So that means buyers have morechoices and also the increase in
new listings means there's moreopportunities for buyers.
It also means days on market isincreasing.
The days on the market until asale is up some 37%.
Now we're at 62 days throughthe end of August and it's just
(03:34):
now from actually going on themarket listing to going to
closing is up some 17%.
That's 114 days from going onthe market to actually closing.
Another interesting observationis the percentage of the
original list price receivedcompared to what it listed,
(03:54):
compared to what it sold In themonth of August that number was
down 2 percent to 94 percent%.
Sellers are coming off of theirprice on average 94%, and then
in the year to date it was at95%.
So I mean the market'ssoftening because of increased
inventory.
But this is another interestingobservation the month of August
(04:16):
was slower.
This August versus the previousAugust it was actually down 12%
If we just look at August 2024versus August 2025.
But still, if we look at yearto date, year to date through
the end of August, we were stillup 3% in the number of homes
(04:38):
sold.
So again, the sky is notfalling, the market's still
moving.
Now the big news has certainlybeen with the interest rates and
where the interest rates aregoing.
It has been, you know, thisweek all the eyes are on the
Federal Reserve and the Fed ismeeting and the overwhelming
(04:58):
expectation is that they'regoing to cut the federal funds
rate.
And so what a lot of buyers andsellers are asking is does that
mean mortgage rates are aboutto drop too?
And the answer is not as simpleas a lot of the headlines are
suggesting.
The Fed doesn't directly setthe mortgage rates.
It's a big misconception, butcertainly the decisions it makes
(05:23):
, actions it makes and, moreimportantly, the this is so
interesting the expectation ofits actions can actually
influence where the mortgagerates head next.
And if you, this is just aquick snapshot or a lesson in
the federal mortgage rate.
The federal funds rate isactually what's called the.
(05:44):
It's a short term interest rate.
Banks charge each other toborrow money overnight and it's
not the same as a 30-year fixedmortgage rate.
However, when the feds adjustthe rate, it sends signals
(06:04):
through the economy, impactingeverything from credit cards,
auto loans, business borrowingand, yes, it trickles down to,
eventually, mortgages.
So this week the CME FedWatchtool shows markets are pricing
(06:24):
in, baking in, they'reanticipating and they've already
priced in almost 100% chance ofa September cut and most
experts expect it will be amodest quarter point 25 basis
points with a slim chance of ahalf point cut.
(06:45):
And so why?
The market saw this coming andthis is where it gets
interesting.
Mortgage rates often move aheadof the Fed.
That's because mortgage ratesare tied closely to the bond
market and specifically theyield on the 10-year treasury,
and investors have been readingthe tea leaves since the weak
(07:07):
jobs report in August andearlier again this month, and
each time the data pointed to acooling economy and markets
started baking in the likelihoodof a Fed cut and mortgage rates
tickled down and ticked down inadvance.
And mortgage rates tickled downand ticked down in advance.
(07:28):
So if the Fed cuts rates by thewidely expected 25 basis points
, that's likely already pricedin Mortgage rates, which, by the
way, they've been dropping, andlast week we saw a number of
our buyers lock in at the lowestrates we've seen in over a year
.
So mortgage rates may not budgemuch, but if the Fed surprises
(07:50):
us with a larger cut, that couldtrigger a more noticeable dip
in mortgage rates.
So what could happen next?
Even if the September cut ismodest, economists say that the
real story is whether the Fedstarts a cycle of cuts.
If the economy continues toshow signs of slowing and many
(08:10):
think it will the Fed could trimrates again before the end of
the year.
Sam Williamson, the senioreconomist at First American,
said this for mortgage ratesinvestor confidence in a
forthcoming rate cut cycle couldhelp push borrowing costs lower
in the back half of 2025,offering some relief to housing
(08:33):
affordability and potentiallyhelping to boost buyer demand
and overall market activity.
So, in other words, the biggerpicture isn't just this week's
Fed meeting, it's whether we'reat the start of a trend.
So here in Henderson Countywe've been talking about
affordability all year long.
(08:53):
With the average single familyhome price around that 540 price
range, even small shifts inmortgage rates can make a big
difference in monthly payments.
Small shifts in mortgage ratescan make a big difference in
monthly payments.
For example, on a $400,000mortgage, just a half point in
interest rates can move yourmonthly payment by over $100.
(09:14):
And so families on the fenceabout buying.
That's the difference betweenstretching too thin and doable.
And so, while no one shouldexpect rates to plummet
overnight, a series of Fed cutscould slowly ease borrowing
costs into late 2025 and early2026 and can give buyers more
(09:36):
breathing room and potentiallybring more activity into the
housing market.
Again, this will impact ourlocal market.
Here Again, to remember and youcan see this on our most recent
blog posts, you can go togeorgialstategroupradiocom the
Fed does not set the mortgagerates, but its moves in the
(09:58):
anticipation of them shape thedirection of rates, and a small
cut this week could already bebaked in.
The bigger cut could have amore immediate impact.
So, again, the thing to watchin the real story is whether
we're at the beginning of acycle of cuts that could help
(10:18):
affordability in the monthsahead.
But if you're a buyer waiting onthe sidelines, it is absolutely
the time to talk strategy withyour real estate agent.
And if you're a seller, eventhe modest improvement in rates
could bring more buyers backinto the market.
So we'd love to have theconversation.
If you're thinking of buying,or maybe you're thinking of
(10:39):
buying and then selling, maybeyou're looking at selling and
then buying, whatever yoursituation is, we'd love to have
the conversation.
You know, the difference isthis is so interesting on a
$400,000 mortgage just to giveyou some more context at 6.5% of
payments, about $2,500.
If the rates dip just a quarterto 6.25, that payment drops by
(11:04):
$65.
At 6%, the savings are $130.
And if that interest rate wasto go to 5.75, you're saving
nearly $200 a month.
I mean this can make thedifference for a buyer in our
market and so it does matter.
These interest rates matter andthe thing to put into context is
(11:26):
, even with the interest rateswhere they were and earlier this
year they were as high as 7%,you got to remember the last 24
months of Henderson County havebeen stable.
We've been averaging about 125homes a month selling even with
and that doesn't include condosor townhomes or land or
(11:47):
commercial again, which we workin all of those different
categories but we use singlefamily homes as a litmus or as a
barometer.
We're still averaging 125 homesa month selling in Henderson
County.
Over a third of our homes soldin Henderson County, by the way,
are purchased with cash buteven so, even with the 7%
(12:07):
interest environment, we've beenholding steady here in
Henderson County.
Something I'm going to dive intoin the second half of the show
is rates of people and movingand moving trends into our area,
moving North Carolina.
Migration is significant andI'm going to share with you some
(12:30):
of the research I've done onNorth Carolina and then some of
the research I've done forHenderson Carolina and then some
of the research I've done forHenderson County and just some
of the trends that is happeningand giving you some local
context, giving you somestatewide context.
But the boom, the NorthCarolina boom, population boom,
is a story of migration.
(12:51):
People are coming here for somany different reasons.
The high quality of life, theeconomic opportunities, the
affordable living and thenumbers tell a story and we'll
dive into that and I'll sharewith you that in our second half
of the show You're listening tothe Georgia Real Estate Group
live radio broadcast here in thequeue every Monday morning.
Of course, find us online atrealestatebygregcom.
(13:12):
You can also call us directlyat 828-393-0134.
You can follow us on socialmedia.
We podcast all of our radioshows and always welcome it's
amazing the people that callinto the office and give us
feedback on the radio show andthen if you have topics or
conversations or guests youmight suggest, we're always
welcome to that too.
But again, we love sharing thegood news about the local real
(13:35):
estate market, the good newsabout our community.
We live in an incrediblecommunity and I tell people all
the time I am biased I think welive in one of the most amazing
places in the world and gratefulto call Henderson County home,
grateful to serve the communitythrough real estate and just
grateful to be here with youevery Monday morning right after
the nine o'clock news.
So stay tuned in.
(13:56):
We have a short break and we'llbe right back.
Good morning and welcome backto the Georgia Real Estate Group
live radio broadcast here inthe queue every Monday morning
and so grateful to be with youhere.
We were just reminiscing ortalking about this weather, but
I don't know about you, but Ilove having my windows open and
(14:16):
letting the cool morning aircome in and then cools down the
house and then usually by thetime it warms up in the middle
of the day the house is stillcool and then ready for it again
at nighttime.
But I'm so grateful.
I mean certainly the quality oflife and the temperatures and
the climate here is one of themany reasons people move here
and I will dive into thatconversation too.
I shared with you before thebreak.
(14:39):
I was going to dive into thepopulation boom for North
Carolina and also specificallyHenderson County and some of the
research I did.
But before we do that, again,if you're tuning in, for the
first time ever, the George RealEstate Group is located in Flat
Rock.
We serve all of Western NorthCarolina and the upstate,
(14:59):
spartanburg and Greenvillecounties and we're growing.
If you thought about a careerin real estate, we'd love to
have the conversation.
You can call us directly at828-393-0134, 828-393-0134.
Find us online atrealestatebygregcom.
Also, be sure to follow us onsocial media.
You can stop by our office.
You can call us.
We'd love to connect with you.
We podcast all of our radioshows.
And again, whether you'rebuying, selling, investing in
(15:20):
real estate.
Maybe you are working throughan estate, maybe you're working
through your real estateinvestments or portfolio,
whatever it might be.
Maybe you want to talk taxstrategy.
Maybe you want to talk aboutinvestment strategy.
If we can help, we haveincredible experience and
systems and processes and provenand predictable processes with
our team and we'd love toconnect.
(15:40):
Call us directly at828-393-0134.
You know, north Carolina iscontinuing to experience a
significant population boom inrecent years and it's driven
largely by people moving intothe state and certainly
Henderson County and the westernpart.
(16:01):
Here we are mirroring what'shappening on a statewide level
here locally, and so why are somany people choosing North
Carolina?
And again, what's happening?
So did you know NorthCarolina's population officially
surpassed 11 million in 2024?
(16:22):
And the state actually added165,000 people from July 2023 to
July 2024 alone.
It was the fourth largest gainof any state, behind that state,
behind Texas, florida andCalifornia.
But since the 2020 census,north Carolina has added about
(16:42):
650,000 residents and that'sabout 140,000 per year and
that's a much faster pace thanduring the 2010s, when the
growth was at about 90,000 peryear.
So this is interesting.
It's migration that's drivingthe growth and 95% of North
(17:04):
Carolina's population growthsince 2020 has come from net
migration, meaning far morepeople move in than move out,
and this is funny.
We see this.
I could have told you that justbased on our real estate alone.
But it's so interesting in thereal estate industry, where real
estate agents are like you know, we're able to refer people.
(17:25):
I mean we've helped peopleacross the entire United States.
We've helped people that areselling their house in
California.
We've had clients buying housesin California.
We've helped clients buying andselling in Florida.
I mean we're able to connectthrough our network of agents
all across the United States andhelp our clients connect.
But this is people if we couldhave predicted, I could have
(17:51):
told you this because we send wehave more people sending us
referrals about people moving toNorth Carolina than we ever
have, about people that we'reworking with that are leaving.
You know, from April 2020 toJuly 2024, our state of North
Carolina saw an estimated netgain of 573,000 people from
migration and so in just themost recent year, about 82,000
(18:16):
people moved to North Carolinafrom other states and that's an
additional 70 net came fromabroad.
This is also interestingNatural increase.
This is births minus deaths nowplay a very small role, only
about actually less than 5% ofgrowth.
But again, north Carolina'spopulation increase is
overwhelmingly driven bynewcomers arriving and again, we
(18:41):
have so many people moving inthan moving out.
Now people are saying peopleare curious, where are the
newcomers coming from?
People are moving to NorthCarolina from across the country
and, for example, in 2021,nearly 366,000 individuals moved
into North Carolina, with about89% of them coming from US
(19:04):
states.
The top feeder states you couldprobably guess it were Florida,
new York, south Carolina andCalifornia.
Many others came from, likeGeorgia and New Jersey and Texas
.
But the other fascinating thingis international migration is
also rebounding, post-pandemic,and that's certainly part of it
(19:27):
as well.
A lot of top countries oforigin historically include
Mexico, india and others.
Now Henderson County it's amicrocosm of the state's
migration-driven growth and ourpopulation here in Henderson
County has risen largely becauseof the people moving in.
Also, as of 2024, hendersonCounty's population it's
(19:50):
estimated to be about 120,000people, up from 116,000 in 2020.
So we've had growth.
But the interesting thing isHenderson County because of our
demographics this is just.
You hear this.
We have a lot of retirees, wehave an older population.
We actually have if you didn'tknow this.
(20:12):
We actually have more deathsthan births each year due to our
older demographic and, and infact, between 2022 and 2023,
alone, in Henderson County, wehad 520 more deaths than births.
That's what's called a naturaldecrease, and yet the county
still grew in population becauseof the inbound migration
(20:34):
outweighing the losses.
So virtually all of HendersonCounty's population comes from
net migration, and so we'veactually we're expected.
This is so interesting.
State projections show that forthe decade of 2020 through 2023
, henderson County is expectedto gain about 20,000 residents
(20:54):
from migration, while roughlyseeing 6,000 more deaths and
births.
So, again, it's just themigration versus natural growth,
and so, in otherwise, newarrivals are offsetting the
natural population decline.
Now, henderson County, as weknow and as we've experienced,
and as you know, is a magnet forretirees and others relocating
(21:15):
from out of the state, and it'sbeen rapid since the 1960s as a
result of the influx from otherstates, and so this is
interesting.
The median age in HendersonCounty is 47 and a half years,
versus 39 years for NorthCarolina as a whole.
Also, one in four residents is65 or older.
(21:36):
So, again, of course, ashevillegets all the news.
I mean, we are certainly partof the larger Asheville
metropolitan area.
But you know people come herefor the quality of life.
But you know it is the.
This is.
You know why are people cominghere?
I just mentioned one of thereasons quality of life.
The mild, distinct, fourdistinct climates and seasons.
(22:02):
The mild winters, I mean wehave our incredible springs and
falls and then the summers arewarm, but they're not as extreme
as some of the deep southstates.
Also, the quality of life, ofcourse North Carolina can claim
from the mountains to the beach.
It depends.
I'm a fan of the mountains butcertainly love the beach when I
(22:22):
get a chance to go.
But you can all in one state.
You have the mountains and thebeach.
But the outdoor activities, therecreation, natural beauty,
again, the charm of our citiesand towns I mean it's this.
It draws so many people for thequality and better lifestyle
and so there's so much that ourarea has to offer.
Also this is interesting thelower cost of living.
(22:52):
North Carolina offers anaffordable cost of living, about
5% below the national averageas of 2025.
So housing costs tend to belower than in many Northeastern
or West Coast states.
So again, that can be a drivingfactor.
It's all relative, right.
People coming from California,people coming from New England.
They come down here and theysee cheaper housing, cheaper
taxes and lower overall expenses, which makes North Carolina
(23:15):
very attractive.
Another thing is our jobopportunities and growth.
North Carolina's economycontinues to grow and offers a
thriving job market.
Metro areas like Charlotte,raleigh and even Asheville are
often ranked among the bestplaces to live due to the
balance of good jobs andaffordable living and the
(23:35):
quality of life.
North Carolina is also rankedand frequently rated a top state
for business, which translatesinto new companies and
employment opportunities.
So many companies choose NorthCarolina for their employees and
so there's so many factors thatgo into migration.
But North Carolina, we havethis broad range of people
(23:59):
coming here young professionals,families and retirees and a lot
of retirees often choose NorthCarolina as a gentler
alternative to Florida becauseof the mild climate, without the
extreme heat, and then ourmountains have the cooler
summers.
And at the same time, ouryounger professionals, our
(24:19):
younger workers and families arecoming for the growth in the
job markets and also theincredible education that our
state has for our children andfamilies, but also the tech, the
health care, the finance and alot of the reputable
universities.
There's so many reasons, butNorth Carolina, our population
boom, is the story of migration.
(24:40):
People are coming here foreconomic opportunities,
affordable living and highquality of life, and the numbers
tell the story.
Nearly all of North Carolina'srecent growth is from newcomers
moving in and again it's theinflux of new residents that
keeps our population growingdespite, specifically, henderson
(25:00):
County, our aging localcommunity.
So again, we anticipate NorthCarolina and specifically
Henderson County to continuegrowth in the years ahead and it
is a very I've shared this manytimes.
I am so biased to where we live.
It is just North Carolina andspecifically Henderson County
(25:22):
are magnets for people.
People choose to to move here.
We've heard, especially duringCOVID, people chose to move
their dreams forward.
And then, not to mention thepeople that live here, the
incredible people that live here, the community, the generosity,
the nonprofit communities thatwe've highlighted so many times,
and to go ahead and mention,you saw, the resilience of our
(25:45):
community we're coming up onjust a couple weeks away from
the one-year anniversary ofHelene and to see what our
communities come through andhave navigated and the
resilience that our communityhas experienced and shown.
And we know there's so manypeople in our community that are
still recovering, that arestill navigating through what
(26:06):
does life look like?
And rebuilding and there's somany needs that are still out
there and there's so manyincredible nonprofits doing the
work and doing their boots onthe ground and so, again, all
that is still in play and we'veseen our resilience.
We've seen, we saw so muchwhere neighbors helping
neighbors and the communitystepping up.
(26:27):
That is, again, for all theother reasons I shared, why
people move here.
For those of us thatexperienced Helene, and we saw
how people stepped up and showedup and neighbors showing up and
just stepping up in anincredible, incredible
experience that I know so manyof us are still remembering and
navigating and processing.
Again it's coming up on a yearanniversary Again.
(26:49):
This is again one of the mainthe people are the reason why
this community is what it is.
We're so grateful to be hereevery Monday morning right after
the nine o'clock hour.
I know I dove into the weeds alittle bit.
The news about the mortgagerates and the feds cutting the
rates.
Also the migration, which Ithink is so fascinating, but
(27:10):
it's the stories that we hearevery single week where people
are moving here.
They're moving their dreamsforward.
They want their quality of life.
We had some people recentlywalk through our doors that were
they're about a year out, butthey're visiting here from
another country and they saidthis is where we want to call
home.
And so we've had the privilegeand opportunity to serve so many
people through their realestate needs, whether buying or
selling, or investing in realestate.
(27:30):
We've had so much opportunityto serve the community.
We've had an incredibleexperience helping our agents
launching their careers andthriving in their real estate
industry.
That's something we love doing.
So if you thought about acareer in real estate, maybe
you're currently with yourlicense and looking for
something different.
We'd love to have theconversation With any of this.
There's no pressure, there's nocost, there's no obligation.
You can give us a call at828-393-0134.
(27:53):
We're here every Monday morning.
Again, have a wonderful day.
Have a wonderful weekend.
Again, for all your real estateneeds, give us a call.
Find us online atrealestatebygregcom.
Have a great day and we'll seeyou next Monday.
Maybe the house feels a littletoo big these days, the stairs a
little steeper, the pace oflife a little too fast, but what
(28:18):
if your next move wasn't aboutletting go.
It was about making space Forpeace, for freedom, for what
matters most?
At the George Real Estate Group, we understand that real estate
isn't just about the house.
It's about transitions, timingand trust.
We've helped thousands offamilies in Western North
(28:39):
Carolina make smart, thoughtfulmoves closer to nature, closer
to family, closer to home.
So when you're ready to right,size, simplify or start fresh,
we'll be here.
The George Real Estate GroupLocal, trusted, proven.
Call us today 828-393-0134.
(29:00):
Find us online atrealestatebygregcom, because
your next chapter deserves tofeel just right.
Speaker 2 (29:08):
The George Real Estate Group has the experience
of selling over 1,200 propertiesand serving over 1,200 families
with their real estate needs inHenderson County and throughout
western North Carolina.
The George Real Estate Group islocated in Flat Rock, north
Carolina, near Hendersonville inHenderson County.
(29:29):
You can find them online atrealestatebygregcom.
The George Real Estate Groupcan be reached at 828-393-0134
or stop by their office at 2720Greenville Highway, flat Rock,
north Carolina.
Tune in live each week onMonday mornings at 9 0 5 on WTZQ
(29:51):
FM 95.3 and 1600 AM, or streamonline at WTZQcom.
Hello friends, thank you so much for being here.
This is the George Real EstateGroup podcast, which is a
production of our live weeklyradio shows hosted on multiple
radio stations here inHendersonville, north Carolina.
The George Real Estate Groupserves Western North Carolina
and upstate South Carolina andit is a privilege to share
positive news about our localreal estate market and community
(00:23):
.
Thanks so much for subscribingand, of course, if you have any
real estate questions or if wecan help you in any way, be sure
to reach out.
Visit us atgeorgerealestategroupradiocom
for more information.
Good morning and welcome to theGeorge Real Estate Group live
radio broadcast here in thequeue every Monday morning,
(00:44):
sharing with you positive newsabout your local real estate
market and community, and we'reso grateful to be here with you
this Monday morning.
Can you believe we're halfwaythrough the month of September?
And boy is time flying whenyou're having fun and it's
amazing how quick the summer'sgone by and it falls around the
corner and just football seasonand all the great things about
(01:04):
this time of year, the mild andbeautiful temperatures.
I've certainly been enjoyingspending time outside and I hope
you have as well, if you'retuning in.
For the first time ever, theGeorge Real Estate Group's
located Flat Rock, right next tothe Flat Rock Bakery.
Hubba Hubba BBQ, campfire Grill, hubba Lou, our friends at the
Wrinkled Egg all of our greatlocal and independent businesses
.
The George Real Estate Group islocal and independent as well.
(01:26):
We've had the privilege ofserving almost 1,600 families
throughout the years with theirreal estate needs, whether
buying or selling or investingin real estate.
We also have incredible agents.
We're growing.
We're hiring more agents.
If you thought about a careerin real estate the market we'll
jump in and talk about what'sgoing on in the market.
Before we do that, you canfollow us online.
You can follow us atrealestatebygregcom.
(01:48):
You can follow us on socialmedia Facebook and Instagram.
We also podcast all of ourradio shows.
You can find it on yourfavorite podcast platform, but
glad to connect with you any waywe can.
You can stop in our office andsay hello.
You can give us a call828-393-0134, 828-393-0134.
(02:08):
Just a quick snapshot Literallyover the last seven days in
Henderson County there's been 31new listings, there's been 66
price drops, there's been 55homes go under contract and 29
homes closed.
Now, this time of the month Imean typically there's less
(02:29):
closings than towards the end ofthe month.
It just seems to work out thatway.
But the market is absolutelystill moving, it's healthy and
we're averaging about 125, 126single family homes a month
selling over the last 12 months.
The 12-month average price inHenderson County is at $537,000
and change.
(02:49):
But if we look at the month ofAugust, what happened this
August versus the previousAugust, and then if we give a
snapshot of year to date throughthe end of August, versus the
same time period last year, wecan certainly learn a lot.
There was a 3.5% increase innew listings in the month of
August, but for the year, yearto date, we're at an 11%
(03:11):
increase.
So that means buyers have morechoices and also the increase in
new listings means there's moreopportunities for buyers.
It also means days on market isincreasing.
The days on the market until asale is up some 37%.
Now we're at 62 days throughthe end of August and it's just
(03:34):
now from actually going on themarket listing to going to
closing is up some 17%.
That's 114 days from going onthe market to actually closing.
Another interesting observationis the percentage of the
original list price receivedcompared to what it listed,
(03:54):
compared to what it sold In themonth of August that number was
down 2 percent to 94 percent%.
Sellers are coming off of theirprice on average 94%, and then
in the year to date it was at95%.
So I mean the market'ssoftening because of increased
inventory.
But this is another interestingobservation the month of August
(04:16):
was slower.
This August versus the previousAugust it was actually down 12%
If we just look at August 2024versus August 2025.
But still, if we look at yearto date, year to date through
the end of August, we were stillup 3% in the number of homes
(04:38):
sold.
So again, the sky is notfalling, the market's still
moving.
Now the big news has certainlybeen with the interest rates and
where the interest rates aregoing.
It has been, you know, thisweek all the eyes are on the
Federal Reserve and the Fed ismeeting and the overwhelming
(04:58):
expectation is that they'regoing to cut the federal funds
rate.
And so what a lot of buyers andsellers are asking is does that
mean mortgage rates are aboutto drop too?
And the answer is not as simpleas a lot of the headlines are
suggesting.
The Fed doesn't directly setthe mortgage rates.
It's a big misconception, butcertainly the decisions it makes
(05:23):
, actions it makes and, moreimportantly, the this is so
interesting the expectation ofits actions can actually
influence where the mortgagerates head next.
And if you, this is just aquick snapshot or a lesson in
the federal mortgage rate.
The federal funds rate isactually what's called the.
(05:44):
It's a short term interest rate.
Banks charge each other toborrow money overnight and it's
not the same as a 30-year fixedmortgage rate.
However, when the feds adjustthe rate, it sends signals
(06:04):
through the economy, impactingeverything from credit cards,
auto loans, business borrowingand, yes, it trickles down to,
eventually, mortgages.
So this week the CME FedWatchtool shows markets are pricing
(06:24):
in, baking in, they'reanticipating and they've already
priced in almost 100% chance ofa September cut and most
experts expect it will be amodest quarter point 25 basis
points with a slim chance of ahalf point cut.
(06:45):
And so why?
The market saw this coming andthis is where it gets
interesting.
Mortgage rates often move aheadof the Fed.
That's because mortgage ratesare tied closely to the bond
market and specifically theyield on the 10-year treasury,
and investors have been readingthe tea leaves since the weak
(07:07):
jobs report in August andearlier again this month, and
each time the data pointed to acooling economy and markets
started baking in the likelihoodof a Fed cut and mortgage rates
tickled down and ticked down inadvance.
And mortgage rates tickled downand ticked down in advance.
(07:28):
So if the Fed cuts rates by thewidely expected 25 basis points
, that's likely already pricedin Mortgage rates, which, by the
way, they've been dropping, andlast week we saw a number of
our buyers lock in at the lowestrates we've seen in over a year
.
So mortgage rates may not budgemuch, but if the Fed surprises
(07:50):
us with a larger cut, that couldtrigger a more noticeable dip
in mortgage rates.
So what could happen next?
Even if the September cut ismodest, economists say that the
real story is whether the Fedstarts a cycle of cuts.
If the economy continues toshow signs of slowing and many
(08:10):
think it will the Fed could trimrates again before the end of
the year.
Sam Williamson, the senioreconomist at First American,
said this for mortgage ratesinvestor confidence in a
forthcoming rate cut cycle couldhelp push borrowing costs lower
in the back half of 2025,offering some relief to housing
(08:33):
affordability and potentiallyhelping to boost buyer demand
and overall market activity.
So, in other words, the biggerpicture isn't just this week's
Fed meeting, it's whether we'reat the start of a trend.
So here in Henderson Countywe've been talking about
affordability all year long.
(08:53):
With the average single familyhome price around that 540 price
range, even small shifts inmortgage rates can make a big
difference in monthly payments.
Small shifts in mortgage ratescan make a big difference in
monthly payments.
For example, on a $400,000mortgage, just a half point in
interest rates can move yourmonthly payment by over $100.
(09:14):
And so families on the fenceabout buying.
That's the difference betweenstretching too thin and doable.
And so, while no one shouldexpect rates to plummet
overnight, a series of Fed cutscould slowly ease borrowing
costs into late 2025 and early2026 and can give buyers more
(09:36):
breathing room and potentiallybring more activity into the
housing market.
Again, this will impact ourlocal market.
Here Again, to remember and youcan see this on our most recent
blog posts, you can go togeorgialstategroupradiocom the
Fed does not set the mortgagerates, but its moves in the
(09:58):
anticipation of them shape thedirection of rates, and a small
cut this week could already bebaked in.
The bigger cut could have amore immediate impact.
So, again, the thing to watchin the real story is whether
we're at the beginning of acycle of cuts that could help
(10:18):
affordability in the monthsahead.
But if you're a buyer waiting onthe sidelines, it is absolutely
the time to talk strategy withyour real estate agent.
And if you're a seller, eventhe modest improvement in rates
could bring more buyers backinto the market.
So we'd love to have theconversation.
If you're thinking of buying,or maybe you're thinking of
(10:39):
buying and then selling, maybeyou're looking at selling and
then buying, whatever yoursituation is, we'd love to have
the conversation.
You know, the difference isthis is so interesting on a
$400,000 mortgage just to giveyou some more context at 6.5% of
payments, about $2,500.
If the rates dip just a quarterto 6.25, that payment drops by
(11:04):
$65.
At 6%, the savings are $130.
And if that interest rate wasto go to 5.75, you're saving
nearly $200 a month.
I mean this can make thedifference for a buyer in our
market and so it does matter.
These interest rates matter andthe thing to put into context is
(11:26):
, even with the interest rateswhere they were and earlier this
year they were as high as 7%,you got to remember the last 24
months of Henderson County havebeen stable.
We've been averaging about 125homes a month selling even with
and that doesn't include condosor townhomes or land or
(11:47):
commercial again, which we workin all of those different
categories but we use singlefamily homes as a litmus or as a
barometer.
We're still averaging 125 homesa month selling in Henderson
County.
Over a third of our homes soldin Henderson County, by the way,
are purchased with cash buteven so, even with the 7%
(12:07):
interest environment, we've beenholding steady here in
Henderson County.
Something I'm going to dive intoin the second half of the show
is rates of people and movingand moving trends into our area,
moving North Carolina.
Migration is significant andI'm going to share with you some
(12:30):
of the research I've done onNorth Carolina and then some of
the research I've done forHenderson Carolina and then some
of the research I've done forHenderson County and just some
of the trends that is happeningand giving you some local
context, giving you somestatewide context.
But the boom, the NorthCarolina boom, population boom,
is a story of migration.
(12:51):
People are coming here for somany different reasons.
The high quality of life, theeconomic opportunities, the
affordable living and thenumbers tell a story and we'll
dive into that and I'll sharewith you that in our second half
of the show You're listening tothe Georgia Real Estate Group
live radio broadcast here in thequeue every Monday morning.
Of course, find us online atrealestatebygregcom.
(13:12):
You can also call us directlyat 828-393-0134.
You can follow us on socialmedia.
We podcast all of our radioshows and always welcome it's
amazing the people that callinto the office and give us
feedback on the radio show andthen if you have topics or
conversations or guests youmight suggest, we're always
welcome to that too.
But again, we love sharing thegood news about the local real
(13:35):
estate market, the good newsabout our community.
We live in an incrediblecommunity and I tell people all
the time I am biased I think welive in one of the most amazing
places in the world and gratefulto call Henderson County home,
grateful to serve the communitythrough real estate and just
grateful to be here with youevery Monday morning right after
the nine o'clock news.
So stay tuned in.
(13:56):
We have a short break and we'llbe right back.
Good morning and welcome backto the Georgia Real Estate Group
live radio broadcast here inthe queue every Monday morning
and so grateful to be with youhere.
We were just reminiscing ortalking about this weather, but
I don't know about you, but Ilove having my windows open and
(14:16):
letting the cool morning aircome in and then cools down the
house and then usually by thetime it warms up in the middle
of the day the house is stillcool and then ready for it again
at nighttime.
But I'm so grateful.
I mean certainly the quality oflife and the temperatures and
the climate here is one of themany reasons people move here
and I will dive into thatconversation too.
I shared with you before thebreak.
(14:39):
I was going to dive into thepopulation boom for North
Carolina and also specificallyHenderson County and some of the
research I did.
But before we do that, again,if you're tuning in, for the
first time ever, the George RealEstate Group is located in Flat
Rock.
We serve all of Western NorthCarolina and the upstate,
(14:59):
spartanburg and Greenvillecounties and we're growing.
If you thought about a careerin real estate, we'd love to
have the conversation.
You can call us directly at828-393-0134, 828-393-0134.
Find us online atrealestatebygregcom.
Also, be sure to follow us onsocial media.
You can stop by our office.
You can call us.
We'd love to connect with you.
We podcast all of our radioshows.
And again, whether you'rebuying, selling, investing in
(15:20):
real estate.
Maybe you are working throughan estate, maybe you're working
through your real estateinvestments or portfolio,
whatever it might be.
Maybe you want to talk taxstrategy.
Maybe you want to talk aboutinvestment strategy.
If we can help, we haveincredible experience and
systems and processes and provenand predictable processes with
our team and we'd love toconnect.
(15:40):
Call us directly at828-393-0134.
You know, north Carolina iscontinuing to experience a
significant population boom inrecent years and it's driven
largely by people moving intothe state and certainly
Henderson County and the westernpart.
(16:01):
Here we are mirroring what'shappening on a statewide level
here locally, and so why are somany people choosing North
Carolina?
And again, what's happening?
So did you know NorthCarolina's population officially
surpassed 11 million in 2024?
(16:22):
And the state actually added165,000 people from July 2023 to
July 2024 alone.
It was the fourth largest gainof any state, behind that state,
behind Texas, florida andCalifornia.
But since the 2020 census,north Carolina has added about
(16:42):
650,000 residents and that'sabout 140,000 per year and
that's a much faster pace thanduring the 2010s, when the
growth was at about 90,000 peryear.
So this is interesting.
It's migration that's drivingthe growth and 95% of North
(17:04):
Carolina's population growthsince 2020 has come from net
migration, meaning far morepeople move in than move out,
and this is funny.
We see this.
I could have told you that justbased on our real estate alone.
But it's so interesting in thereal estate industry, where real
estate agents are like you know, we're able to refer people.
(17:25):
I mean we've helped peopleacross the entire United States.
We've helped people that areselling their house in
California.
We've had clients buying housesin California.
We've helped clients buying andselling in Florida.
I mean we're able to connectthrough our network of agents
all across the United States andhelp our clients connect.
But this is people if we couldhave predicted, I could have
(17:51):
told you this because we send wehave more people sending us
referrals about people moving toNorth Carolina than we ever
have, about people that we'reworking with that are leaving.
You know, from April 2020 toJuly 2024, our state of North
Carolina saw an estimated netgain of 573,000 people from
migration and so in just themost recent year, about 82,000
(18:16):
people moved to North Carolinafrom other states and that's an
additional 70 net came fromabroad.
This is also interestingNatural increase.
This is births minus deaths nowplay a very small role, only
about actually less than 5% ofgrowth.
But again, north Carolina'spopulation increase is
overwhelmingly driven bynewcomers arriving and again, we
(18:41):
have so many people moving inthan moving out.
Now people are saying peopleare curious, where are the
newcomers coming from?
People are moving to NorthCarolina from across the country
and, for example, in 2021,nearly 366,000 individuals moved
into North Carolina, with about89% of them coming from US
(19:04):
states.
The top feeder states you couldprobably guess it were Florida,
new York, south Carolina andCalifornia.
Many others came from, likeGeorgia and New Jersey and Texas
.
But the other fascinating thingis international migration is
also rebounding, post-pandemic,and that's certainly part of it
(19:27):
as well.
A lot of top countries oforigin historically include
Mexico, india and others.
Now Henderson County it's amicrocosm of the state's
migration-driven growth and ourpopulation here in Henderson
County has risen largely becauseof the people moving in.
Also, as of 2024, hendersonCounty's population it's
(19:50):
estimated to be about 120,000people, up from 116,000 in 2020.
So we've had growth.
But the interesting thing isHenderson County because of our
demographics this is just.
You hear this.
We have a lot of retirees, wehave an older population.
We actually have if you didn'tknow this.
(20:12):
We actually have more deathsthan births each year due to our
older demographic and, and infact, between 2022 and 2023,
alone, in Henderson County, wehad 520 more deaths than births.
That's what's called a naturaldecrease, and yet the county
still grew in population becauseof the inbound migration
(20:34):
outweighing the losses.
So virtually all of HendersonCounty's population comes from
net migration, and so we'veactually we're expected.
This is so interesting.
State projections show that forthe decade of 2020 through 2023
, henderson County is expectedto gain about 20,000 residents
(20:54):
from migration, while roughlyseeing 6,000 more deaths and
births.
So, again, it's just themigration versus natural growth,
and so, in otherwise, newarrivals are offsetting the
natural population decline.
Now, henderson County, as weknow and as we've experienced,
and as you know, is a magnet forretirees and others relocating
(21:15):
from out of the state, and it'sbeen rapid since the 1960s as a
result of the influx from otherstates, and so this is
interesting.
The median age in HendersonCounty is 47 and a half years,
versus 39 years for NorthCarolina as a whole.
Also, one in four residents is65 or older.
(21:36):
So, again, of course, ashevillegets all the news.
I mean, we are certainly partof the larger Asheville
metropolitan area.
But you know people come herefor the quality of life.
But you know it is the.
This is.
You know why are people cominghere?
I just mentioned one of thereasons quality of life.
The mild, distinct, fourdistinct climates and seasons.
(22:02):
The mild winters, I mean wehave our incredible springs and
falls and then the summers arewarm, but they're not as extreme
as some of the deep southstates.
Also, the quality of life, ofcourse North Carolina can claim
from the mountains to the beach.
It depends.
I'm a fan of the mountains butcertainly love the beach when I
(22:22):
get a chance to go.
But you can all in one state.
You have the mountains and thebeach.
But the outdoor activities, therecreation, natural beauty,
again, the charm of our citiesand towns I mean it's this.
It draws so many people for thequality and better lifestyle
and so there's so much that ourarea has to offer.
Also this is interesting thelower cost of living.
(22:52):
North Carolina offers anaffordable cost of living, about
5% below the national averageas of 2025.
So housing costs tend to belower than in many Northeastern
or West Coast states.
So again, that can be a drivingfactor.
It's all relative, right.
People coming from California,people coming from New England.
They come down here and theysee cheaper housing, cheaper
taxes and lower overall expenses, which makes North Carolina
(23:15):
very attractive.
Another thing is our jobopportunities and growth.
North Carolina's economycontinues to grow and offers a
thriving job market.
Metro areas like Charlotte,raleigh and even Asheville are
often ranked among the bestplaces to live due to the
balance of good jobs andaffordable living and the
(23:35):
quality of life.
North Carolina is also rankedand frequently rated a top state
for business, which translatesinto new companies and
employment opportunities.
So many companies choose NorthCarolina for their employees and
so there's so many factors thatgo into migration.
But North Carolina, we havethis broad range of people
(23:59):
coming here young professionals,families and retirees and a lot
of retirees often choose NorthCarolina as a gentler
alternative to Florida becauseof the mild climate, without the
extreme heat, and then ourmountains have the cooler
summers.
And at the same time, ouryounger professionals, our
(24:19):
younger workers and families arecoming for the growth in the
job markets and also theincredible education that our
state has for our children andfamilies, but also the tech, the
health care, the finance and alot of the reputable
universities.
There's so many reasons, butNorth Carolina, our population
boom, is the story of migration.
(24:40):
People are coming here foreconomic opportunities,
affordable living and highquality of life, and the numbers
tell the story.
Nearly all of North Carolina'srecent growth is from newcomers
moving in and again it's theinflux of new residents that
keeps our population growingdespite, specifically, henderson
(25:00):
County, our aging localcommunity.
So again, we anticipate NorthCarolina and specifically
Henderson County to continuegrowth in the years ahead and it
is a very I've shared this manytimes.
I am so biased to where we live.
It is just North Carolina andspecifically Henderson County
(25:22):
are magnets for people.
People choose to to move here.
We've heard, especially duringCOVID, people chose to move
their dreams forward.
And then, not to mention thepeople that live here, the
incredible people that live here, the community, the generosity,
the nonprofit communities thatwe've highlighted so many times,
and to go ahead and mention,you saw, the resilience of our
(25:45):
community we're coming up onjust a couple weeks away from
the one-year anniversary ofHelene and to see what our
communities come through andhave navigated and the
resilience that our communityhas experienced and shown.
And we know there's so manypeople in our community that are
still recovering, that arestill navigating through what
(26:06):
does life look like?
And rebuilding and there's somany needs that are still out
there and there's so manyincredible nonprofits doing the
work and doing their boots onthe ground and so, again, all
that is still in play and we'veseen our resilience.
We've seen, we saw so muchwhere neighbors helping
neighbors and the communitystepping up.
(26:27):
That is, again, for all theother reasons I shared, why
people move here.
For those of us thatexperienced Helene, and we saw
how people stepped up and showedup and neighbors showing up and
just stepping up in anincredible, incredible
experience that I know so manyof us are still remembering and
navigating and processing.
Again it's coming up on a yearanniversary Again.
(26:49):
This is again one of the mainthe people are the reason why
this community is what it is.
We're so grateful to be hereevery Monday morning right after
the nine o'clock hour.
I know I dove into the weeds alittle bit.
The news about the mortgagerates and the feds cutting the
rates.
Also the migration, which Ithink is so fascinating, but
(27:10):
it's the stories that we hearevery single week where people
are moving here.
They're moving their dreamsforward.
They want their quality of life.
We had some people recentlywalk through our doors that were
they're about a year out, butthey're visiting here from
another country and they saidthis is where we want to call
home.
And so we've had the privilegeand opportunity to serve so many
people through their realestate needs, whether buying or
selling, or investing in realestate.
(27:30):
We've had so much opportunityto serve the community.
We've had an incredibleexperience helping our agents
launching their careers andthriving in their real estate
industry.
That's something we love doing.
So if you thought about acareer in real estate, maybe
you're currently with yourlicense and looking for
something different.
We'd love to have theconversation With any of this.
There's no pressure, there's nocost, there's no obligation.
You can give us a call at828-393-0134.
(27:53):
We're here every Monday morning.
Again, have a wonderful day.
Have a wonderful weekend.
Again, for all your real estateneeds, give us a call.
Find us online atrealestatebygregcom.
Have a great day and we'll seeyou next Monday.
Maybe the house feels a littletoo big these days, the stairs a
little steeper, the pace oflife a little too fast, but what
(28:18):
if your next move wasn't aboutletting go.
It was about making space Forpeace, for freedom, for what
matters most?
At the George Real Estate Group, we understand that real estate
isn't just about the house.
It's about transitions, timingand trust.
We've helped thousands offamilies in Western North
(28:39):
Carolina make smart, thoughtfulmoves closer to nature, closer
to family, closer to home.
So when you're ready to right,size, simplify or start fresh,
we'll be here.
The George Real Estate GroupLocal, trusted, proven.
Call us today 828-393-0134.
(29:00):
Find us online atrealestatebygregcom, because
your next chapter deserves tofeel just right.
Speaker 2 (29:08):
The George Real Estate Group has the experience
of selling over 1,200 propertiesand serving over 1,200 families
with their real estate needs inHenderson County and throughout
western North Carolina.
The George Real Estate Group islocated in Flat Rock, north
Carolina, near Hendersonville inHenderson County.
(29:29):
You can find them online atrealestatebygregcom.
The George Real Estate Groupcan be reached at 828-393-0134
or stop by their office at 2720Greenville Highway, flat Rock,
north Carolina.
Tune in live each week onMonday mornings at 9 0 5 on WTZQ
(29:51):
FM 95.3 and 1600 AM, or streamonline at WTZQcom.
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