Raleigh, N.C. — The selection for homes under $500,000 in Raleigh is getting slimmer by the hour.
As of Monday night, there are 92 single-family homes available in that price range. Making matters worse is rising property taxes.
“We have extremely low inventory and we have a lot of migration to the area,” said Century 21 realtor Pamela Mundra. “Therefore, we are looking at a situation where we have a lot of buyers and not enough sellers.”
Isaac White said he’s not a buyer or seller — he’s a “lifer.”
“I love [my neighborhood] to the point that this is home. I don’t see myself living anywhere else,” said White.
White said he wants to stay in southeast Raleigh, where he’s called home for 32 years. But there is one problem.
“In the last couple of years the taxes have almost doubled. That has impacted my income and those type of things,” he said.
White’s not alone. Earlier this month, White and others filed into St. Ambrose Church. They gathered as a group called “One Wake” to talk about how to get county commissioners to fully fund a new grant program providing property tax assistance.
“I’ve talked to countless people who are struggling. I’m close to being on a fixed income. My friends are locked in on their income. It doesn’t keep going up with it,” said White.
While others are looking to buy, White said he just wants to stick around.
“This is my earthly home. I love it here,” he said.
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