October 3, 2022
RALEIGH, N.C. (WTVD) — The Triangle’s hot housing market is almost too hot to handle. The lack of inventory is preventing some people from making a move and buying a dream home.

A new study reveals the median price of a home in Wake County is $410,000, while the average household income is $67,000.

Some homeowners are renovating instead of buying something new.

Anita Kay is essentially doing a gut job because prices are too high in Wake County.

“I moved away from Raleigh to Angier because it’s cheaper,” she said.

Kay is gearing up to tackle her fixer-upper. The to-do list is long, and it’s going to cost her some money, but not as much as buying in the Raleigh area.

“It’s livable. I have everything that I need. I just need to have my own colors and stuff like that,” said Kay.

The Southern Ideal Home Show is taking place amid the sizzling market.

“Prices are rising so quickly and you really need to be able to put your best foot forward,” said Southern Ideal Home Show Manager Tina Robinson. “If your neighbor hasn’t upgraded their backyard and you have, you spent the money, you will realize some of that money back.”

Robinson said kitchen and bath renovations are usually always good investments, but now more people are choosing to upgrade their backyards and increase livable space.

Some businesses are experiencing a dramatic rise in sales since before the pandemic.

“We went up about 80%,” said Pro Forno Owner Bruno Pereira.

Pro Forno sells handcrafted wood fire ovens. They range from $500 up to $5,500.

Pereira says the ovens have become a popular feature for outdoor entertainment.

“Excellent for a party and a beautiful piece to add to your backyard,” he said.

Pam Smith is not looking to add an outdoor oven to her Garner backyard but is trying to make it more of a sanctuary.

“The outdoor is very important at this point for me,” said Smith. “I want a screened-in porch.”

The Southern Ideal Home Show runs through Sunday at the North Carolina State Fairgrounds.

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