Based on the most recent data from Redfin, U.S. housing prices were up 5.4% year over year in November. But, if you are looking to move to North Carolina or if you already live there and are thinking of buying a home in 2025, you will find the market a little better than the overall prices around the country.

According to Redfin, North Carolina home prices were up just 2.6% over November 2023, with a median price of $374,100.

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Experts dispelled five common misconceptions about buying a home in North Carolina heading into 2025.

Myth No. 1: The Housing Market Will Slow Due to Hurricane Helene

The number of homes sold in November was down 2.2% year over year, and a common misconception is that the will continue to slow due to the damage to homes from Hurricane Helene.

What’s the Reality?

“The North Carolina housing market experienced a slight slowdown in the last quarter of 2024,” said Polly Leadbetter, the license partner of Engel & Völkers Foothills Lake James. “This was due to higher mortgage rates, the elections and Hurricane Helene.”

As interest rates continue to drop, experts expect the housing market in most of the state to return to healthy inventory and transaction levels.

“At this point,” Leadbetter added, “only specific areas of Western North Carolina have homes that are still significantly damaged.”

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Myth No. 2: Housing Prices Will Shoot Up

Another common myth is that housing prices are expected to increase in North Carolina with expected interest rate announcements and increased competition.

What’s the Reality?

Nathan Richardson, a real estate expert and founder of CashForHome, said, “It goes without saying that we have noticed an upward price in the housing market in some cities like Raleigh, Charlotte and Asheville. However, other areas in North Carolina still have a reasonable price guide for the buyers.”

Just because rates are expected to drop doesn’t mean that all housing prices will increase in the state. Real estate dynamics can be fairly complex, and there are no certainties when it comes to prices over an entire state.

Myth No. 3: Homebuyers Aren’t Required To Pay Any Fees

According to Leadbetter, a common misconception about buying a home in North Carolina is that homebuyers believe they’re not required to pay any fees at the time their offers are accepted.

What’s the Reality?

Leadbetter pointed out that two fees are due in North Carolina as soon as an offer is accepted. The first fee is a due diligence fee, which is similar to an option fee. It’s paid directly to the seller for the time spent conducting inspections, securing a loan, etc. This fee is nonrefundable because the buyer pays the seller to take the property listing off the market and not for the results of the inspections.

The second fee is the earnest money deposit, which is held in a trust account until closing and is refundable if the buyer cancels before the end of the due diligence period.

“Both fees are credited to the purchase price if the sale is completed,” Leadbetter said.

Myth No. 4: The Seller Is Responsible for Making Certain Repairs

Leadbetter noted another misconception in the North Carolina market, which is that the seller is responsible for repairing damages found during a home inspection.

What’s the Reality?

In North Carolina, homes are sold “as is.”

Leadbetter clarified: “While many sellers are willing to negotiate repairs, they’re not obligated to address damage or issues found during a home inspection.”

This is why it’s crucial that you have a home inspection conducted by an expert who can identify issues that aren’t easily noticed. If you don’t bring up the issues during negotiations, you may get stuck with expensive repairs when you take ownership of the property.

Myth No. 5: Property Closings Are Done By a Title Company

A common myth about buying a home in North Carolina is that a title company does property closings. However, the process is a bit different in the state compared to others.

What’s the Reality?

Unlike many other states, property closings in North Carolina are done by an attorney, not a title company.

Leadbetter added, “An attorney is hired by the buyer and they will research the title on the property as well as obtain title insurance, coordinate loan documents, and prepare all other documents that are needed to purchase the property.”

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This article originally appeared on GOBankingRates.com: 5 Biggest Myths of Buying a Home in North Carolina in 2025 — Dispelled by Experts