28743, Hot Springs, NC

Home Equity and Home Prices in the 28743 Zip Code of Hot Springs, NC

There are a number of factors that affect home equity and home prices. Some of these factors include the current market conditions, interest rates, and local housing supply and demand.

In the 28743 zip code of Hot Springs, NC, there is a moderate amount of home equity available. According to Zillow’s 2018 Home Value Report, the median home value in this zip code is $236,200. This means that approximately one-third (33%) of all homes in this zip code have more than $236,200 worth of equity.

The average home value in this zip code has increased by 5% since 2017. This indicates that there is strong demand for homes in this area and that buyers are willing to pay more for properties here than elsewhere in North Carolina.

Interest rates play an important role when it comes to determining how much money people can borrow against their homes. Right now, interest rates are low – meaning that people can get a lot of money for their homes by borrowing against them. This has led to an increase in the number of homeowners who are able to refinance their mortgages – which means they are getting a higher rate on their existing loan instead of having to pay off their entire mortgage at once (which would lower their monthly payments).

The 28743 zip code has a relatively low population density – which means there is not as much competition for houses here as there is in areas with higher population densities. This could lead to slower price growth here than we would see if there were more houses available for sale and buyers had more choices about where they wanted to live.

Overall, it appears that there is strong demand for homes in the 28743 zip code – which should lead to continued price growth over time.