The North Carolina real estate market is keeping relative pace with the national housing sector. The unique combination of the Coronavirus and the resulting indicators left behind in their wake have created an environment similar in most states. Namely, historically low (but rising) interest rates, supply and demand restrictions, improved savings, and lower unemployment levels have all fostered an environment in which local home prices have been able to appreciate at an exponential pace for far too long. The North Carolina housing market, in particular, has already seen record appreciation rates this year. Nonetheless, macroeconomic conditions are starting to have a lasting impact on the local housing sector, and previous trends may be reversing. Higher interest rates are slowing mortgage applications, and fears of a recession may temper spending on housing. As a result, sellers are starting to lose their edge and the market may revert back to the mean.