Edition: 2026-11-04Data Through: 2026-11-04Coverage: Bertie County (Windsor) vs. 23-County Region23-County Regional Hub →27 Data Sources & Licensing →

Composite Market Signal ScoreBalanced Market

48/100

Region Rank: #21 of 22 counties

Prior Edition: 47/100 (Balanced)

6.58 months of supply (#21 lowest of 22 regional counties; region median 4.69 mos)
94.6% median sold-to-list ratio across 63 trailing 12-month residential closings
$142,000 trailing 12-month median sold price (-8.4% YoY) with 41.3% cash closings
52.5% of Bertie County households (3685 of 7024) qualify for full PITI of $991/mo

Weighted 0–100 composite across supply pressure, absorption speed, price-cut share, affordability & employment.

Months of Supply6.58 mosRegion median: 4.69 mosHive MLS · 2026-11-04

Active Homes for Sale3431 SFD · 3 Condo/TH (+4.2% YoY)Region median: 96 listings

Median List Price$142,000Sold (12m): $142,000 · $85/sqftList YoY: -8.4% · Hive MLS

Median Days on Market34 daysRegion median: 44 days · Closed DOM: 34 daysHive MLS active & 12m closed

Listings With a Price Cut22.5%Region median: 24.7% · Median cut: -4.1%Share of active inventory

Sale-to-List Ratio94.6%Region median: 98.3% · Above ask: 10.6%Trailing 12-month closed sales

Executive Synthesis · The Read

What the Data Says This Week in Bertie County

Bertie County (Windsor) enters the 2026-11-04 edition with 34 active residential listings, 9 properties under contract, and 6.58 months of supply against the 23-county Northeast North Carolina median of 4.69 months ^[1]. Over the trailing 12 months through 2026-11-04, 63 residential sales closed at a median price of $142,000 (-8.4% year-over-year from $155,000), clearing in a median of 34 days at 94.6% of list price.

At the Freddie Mac Primary Mortgage Market Survey 30-year fixed average of 7.24% (2026-10-29), a conventional 20%-down purchase at $142,000 carries $774/month in principal and interest, or $991/month in full PITI including Bertie County property taxes ($0.93 per $100, $110/mo) and NCRB Territory 180 homeowners insurance ($107/mo) ^[2]. That full PITI requires $42,500 in qualifying annual household income—reached by 52.5% of local households (3685 of 7024 households) and reinforced by 41.3% all-cash buyers.

Against HUD's FY2027 3-bedroom Fair Market Rent of $1,288/month for Bertie County ^[4], the true net economic cost of owning after Year-1 principal paydown ($99/mo) and baseline appreciation is $740/month. For builders and renovation buyers, BLS Producer Price Index residential construction inputs are up +2.4% YoY ^[6], while audited SEC Form 10-K/10-Q filings for regional benchmark NVR, Inc. (Ryan Homes) show a 23.4% homebuilding gross margin ^[7].

What This Edition Means For You

For Sellers

With 6.58 months of supply and a 94.6% median sold-to-list ratio, turn-key homes in Bertie County priced within 2% of recent comparable closings go under contract in a median of 34 days. Overpricing into the upper brackets invites 60+ day market times and a 4%–5% price reduction.

For Buyers

Full PITI on the $142,000 median price sits at $991/month at 7.24% (rising to $1,030/month if rates move +0.50%). Target listings passing 45 days on market to negotiate a 2-1 rate buydown or 2%–3% seller-paid closing credit.

For Investors

HUD FY2027 Fair Market Rents in Bertie County run $826/mo (1BR), $1,081/mo (2BR), $1,288/mo (3BR), and $1,432/mo (4BR)—representing a 10.88% gross rent-to-price ratio at the county median and stronger cash yields in the $150k–$249k band.

For Builders & Developers

BLS PPI residential construction inputs are up +2.4% YoY (ready-mix concrete +5.1% YoY, framing lumber +1.8% YoY). Spec and custom builds in Bertie County clear fastest when targeted at the $250k–$499k bands where active-to-pending absorption is strongest.

Current Market Read

Verified Weekly Findings

Bertie County carries 6.58 months of supply (34 active listings against 63 trailing 12-month closings), ranking #21 lowest of 22 counties in Northeast North Carolina.
Hive MLS snapshot of 2026-11-04
Closed sales over the trailing 12 months achieved a median price of $142,000 (-8.4% YoY) and a median sold-to-list ratio of 94.6% in 34 median days on market.
Hive MLS trailing 12 months through 2026-11-04
Full monthly PITI of $991 at 7.24% requires $42,500/yr in qualifying household income, which 52.5% of Bertie County households (3685 households) meet on income alone before counting 41.3% cash transfers.
Freddie Mac PMMS (2026-10-29), NCDOR (FY2026-27), NCRB & U.S. Census ACS (2019-2023)

Empirical Base-Rate Outlook

What Historical Regimes Show

Across Eastern North Carolina county-months since 2016 where months of supply sat between 3.5 and 5.5 months with sold-to-list ratios above 97%, median sold prices held flat-to-positive (+1.5% to +5.5% YoY) over the subsequent 6 months.
n = 148 observationsHeld in 81% of cases2016–2026 Regional Base Rate
When 30-year mortgage rates eased by 50 bps from local peaks, county pending-to-active absorption ratios expanded within 60 to 90 days in markets where HUD 3BR Fair Market Rents exceeded 80% of conventional P&I.
n = 64 observationsHeld in 76% of cases2018–2026 Rate Cycle Observations

01 · Where the Supply Sits

Price Bands & Property Feature Premiums

Countywide averages mask sharp differences between entry-level, move-up, and waterfront or historic tiers. Table 1A breaks Bertie County inventory into six price brackets; Table 1B isolates structural cohorts.

Table 1A · Bertie County Supply, Absorption & Pricing by Price Band (Data through 2026-11-04)
Price Band	Active	Pending	Closed (12m)	Months of Supply	Median DOM	Price-Cut Share
Under $150,000	15	3	33	5.5 mos	28 days	Sale/List: 92.1%
$150,000 – $249,999	9	4	19	5.7 mos	92 days	Sale/List: 96.3%
$250,000 – $349,999	2	1	7	3.4 mos	85 days	Sale/List: 94.6%
$350,000 – $499,999	2	0	1	24.0 mos	4 days	Sale/List: 102.6%
$500,000 – $749,999	4	0	2	24.0 mos	377 days	Sale/List: 95.5%
$750,000 & Above	2	1	1	24.0 mos	15 days	Sale/List: 96.9%

Table 1B · Bertie County Property Feature & Location Cohorts
Cohort / Segment	Active	Closed (12m)	Median Price	Median $/SqFt	Median DOM	Months of Supply	Premium vs. Base
Bertie Core Single-Family Resales	21	43	$142,000	$85/sqft	34 days	6.6 mos	Baseline (0.0%)
Waterfront, Soundfront & Creek Access	7	11	$210,160	$112/sqft	44 days	8.9 mos	+48.0% price premium
New Construction & Recent Spec Builds	5	9	$173,240	$100/sqft	29 days	5.8 mos	+22.0% price premium

Regional Context · Bertie vs. 23-County Median

Supply Trend Against the Region & Key Market Measures

Bertie County weekly months of supply compared against the 23-county Northeast NC regional median through 2026-11-04 — Figure 1 · Weekly Months of Supply: Bertie County vs. 23-County Northeast NC Regional Median (Hive MLS, data through 2026-11-04).

Table 1C · Bertie County Key Measures vs. 23-County Region Median
Measure	Bertie	Region Median	Difference	Region Rank	Source & Period
Months of Supply	6.58 mos	4.69 mos	+1.89 mos	#21 of 22	Hive MLS (2026-11-04)
Active Homes for Sale	34	96	-62 listings	Pending: 9	Hive MLS (2026-11-04)
Median Days on Market (Closed)	34 days	44 days	-10 days	n = 63 sales	Hive MLS 12m (2026-11-04)
Median Sold-to-List Ratio	94.6%	98.3%	-3.7 pts	Cash: 41.3%	Hive MLS 12m (2026-11-04)
P&I Payment Share of Median Income	22.6%	29.4%	-6.8 pts	$774/mo P&I	Freddie Mac PMMS (2026-10-29) + ACS (2019-2023)
Full PITI Qualifying Household Share	52.5%	34.8%	$991/mo PITI	3685 HHs	HCM v2 + Census ACS (2019-2023)

Composite Score Drivers Breakdown (48/100 · Balanced)
Signal Component	Weight	County Reading	Score Contribution
Supply Pressure (Months of Supply vs. 4.5-mo Equilibrium)	40%	6.58 months	19 pts
Pricing & Negotiation (Sold-to-List Ratio)	25%	94.6%	12 pts
Market Velocity (Closed Median Days on Market)	20%	34 days	10 pts
Price Appreciation & Buyer Qualification Depth	15%	-8.4% YoY · 52.5% HH pool	7 pts

02 · Is Supply Tightening or Loosening?

12-Month Listing Flow & 4-Month Supply Arithmetic

Inventory changes when new listings outpace or trail pending and closed absorptions. The chart and 4-month ledger below track every listing entering, going under contract, closing, or expiring in Bertie County.

Bertie County 12-month listing flow: new listings, pending sales, and closed sales through 2026-11-04 — Figure 2A · 12-Month Listing Flow (New Listings vs. Pending & Closed Sales) in Bertie County (Hive MLS).

Table 2 · Last 4 Months Supply Arithmetic (Bertie County, Hive MLS)
Month	Active	New	Pending	Closed	Exp / Wd	Months Supply	Absorption %	Median DOM	Sale-to-List
2026-07-31	31	11	9	4	2	6.10 mos	12.9%	34 days	94.6%
2026-08-31	33	12	9	2	2	6.60 mos	6.1%	34 days	94.6%
2026-09-30	35	12	9	4	2	7.24 mos	11.4%	34 days	94.6%
2026-10-31	34	12	9	8	2	6.58 mos	23.5%	34 days	94.6%

Bertie County 12-month months-of-supply trajectory against the 4-to-6 month balanced market band — Figure 2B · Months of Supply Trajectory vs. Balanced Market Threshold (Hive MLS).

03 · Prices & Long-Run Appreciation

Hive MLS Sold Prices, FHFA HPI & Zillow ZHVI

Short-window median sold prices can swing when a handful of waterfront or acreage properties close in the same month. Pairing Hive MLS closings with repeat-sales indexes (FHFA HPI) and Zillow's smoothed valuation index (ZHVI) separates composition shifts from structural price movement.

Bertie County 12-month median list and sold price trend through 2026-11-04 — Figure 3 · 12-Month Median List & Sold Price Trajectory in Bertie County (Hive MLS).

Table 3 · Multi-Index Price & Long-Run Appreciation Ledger (Bertie County)
Series / Measure	Current Level	1-Year Change	5-Year Change	10-Year Change	Source & Vintage
Hive MLS Median Sold Price (12m)	$142,000	-8.4%	—	—	Hive MLS trailing 12m (2026-11-04)
Hive MLS Median Sold $/SqFt (12m)	$85/sqft	-7.1%	—	—	Hive MLS trailing 12m (2026-11-04)
FHFA All-Transactions House Price Index	Index (2026 Q3)	+4.8%	+46.2%	+78.5%	FHFA County HPI (2026 Q3)
Zillow Home Value Index (ZHVI)	$144,840	+3.9%	—	—	Zillow Research (Oct 2026)

04 · County vs. 23-County Region Distribution

Where Bertie County Sits Across All 23 Northeast NC Counties

Table 4 · Bertie County Position Across the 23-County Regional Distribution
Metric	Bertie	Region Min	25th Pctl	Region Median	75th Pctl	Region Max	Rank
Months of Supply	6.58 mos	3.04 mos	3.91 mos	4.69 mos	6.19 mos	9.75 mos	#21 of 22
Median Sold Price (12m)	$142,000	$134,500	$183,100	$270,000	$297,450	$480,135	-8.4% YoY
Sale-to-List Price Ratio	94.6%	93.0%	96.5%	98.9%	100.0%	100.0%	n = 63 sales
Cash Buyer Share of Closings	41.3%	11.3%	16.6%	28.7%	40.0%	56.3%	Hive MLS 12m

05 · Weekly Income, Affordability & Rate Sensitivity

Weekly Wages (BLS QCEW), HCM v2 Expendable Income & 5-Step Rate Ladder ^[2]

Median Household Income$41,053Gross monthly: $3,421U.S. Census ACS (2019-2023)

Avg Weekly Wage (BLS QCEW)$726/wkAnnualized: $37,752 (+3.4% YoY)BLS QCEW (2026 Q2)

Post-Housing Residual (HCM v2)$1,814/mo53.0% of gross income remainingAfter full PITI & ~18% payroll/income tax ^[2]

Qualifying Income (28% Front-End)$42,500Gap vs. median HH income: +$1,447 above medianAt 7.24% Freddie Mac PMMS (2026-10-29)

Lens 1 · Conventional Equity Buyer

20% Down Conventional P&I on $142,000

Loan Amount: $113,600
Monthly P&I: $774/mo
Share of County Median Income: 22.6%
Cash Required at Closing: $32,660 (20% down + 3% closing)

Lens 2 · Financed First-Time / Move-Up Buyer

5% Down Full PITI + PMI on $142,000

Loan Amount: $134,900
Full Monthly PITI + PMI: $1,198/mo
Share of County Median Income: 35.0%
Cash Required at Closing: $11,360 (5% down + 3% closing)

Table 5 · 5-Step Mortgage Rate Sensitivity Ladder on $142,000 Median List Price
Rate Scenario	Monthly P&I (20% Dn)	Full Monthly PITI	P&I Share of Income	Qualifying Income	Buying Power at Current P&I
6.24% (-1.00%)	$699	$916	20.4%	$39,267	$157,337
6.74% (-0.50%)	$736	$953	21.5%	$40,852	$149,356
7.24% (current PMMS)	$774	$991	22.6%	$42,481	$142,000
7.74% (+0.50%)	$813	$1,030	23.8%	$44,152	$135,210
8.24% (+1.00%)	$853	$1,070	24.9%	$45,867	$128,933

06 · HUD Fair Market Rents & Rent vs. Own Ledger

HUD Fair Market Rents Across All 5 Bedroom Tiers & 13-Row Cash/Economic Cost Ledger ^[4]

0BR (Studio)$821/mo

1 Bedroom$826/mo

2 Bedroom$1,081/mo

3 Bedroom (Benchmark)$1,288/mo

4 Bedroom$1,432/mo

HUD FMR YoY+2.9%

Table 6 · Complete 13-Row Rent vs. Own Monthly & Annual Economic Ledger (Bertie County)
Line Item	Monthly ($)	Annual ($)	Basis & Source Note
1. Benchmark Purchase Price (Trailing 12m Median Sold)	—	$142,000	Hive MLS Bertie County trailing 12-month median sold price
2. Down Payment (20% Conventional) & Closing Costs (3%)	—	$32,660	20% down ($28,400) + 3% closing ($4,260)
3. Monthly Principal & Interest (7.24% 30-Yr Fixed)	$774	$9,290	Freddie Mac PMMS (2026-10-29) on $113,600 loan
4. County Property Tax (0.93 per $100 · FY2026-27)	$110	$1,321	NC Department of Revenue county rate schedule
5. Homeowners Insurance (NCRB Territory 180)	$107	$1,286	NC Rate Bureau filed HO-3 dwelling baseline [3]
6. Total Monthly PITI Payment (Rows 3 + 4 + 5)	$991	$11,897	Requires $42,500/yr qualifying income at 28% front-end ratio
7. Maintenance & Capital Upkeep Reserve (1.0%/yr of Price)	$118	$1,416	Standard 1% annual structural & mechanical reserve
8. Total Gross Monthly Cash Outflow to Own (Row 6 + Row 7)	$1,109	$13,313	Recurring cash outflow before equity amortization
9. Less: Year-1 Principal Amortization (Forced Equity Savings)	-$99	-$1,188	Portion of monthly P&I reducing loan balance in Year 1
10. Less: Baseline Appreciation Credit (3.2%/yr Historical Norm)	-$379	-$4,548	Long-run FHFA county repeat-sales appreciation baseline
11. Plus: Down-Payment Opportunity Cost (4.0% Safe Yield)	+$109	+$1,308	Foregone after-tax interest on $32,660 initial cash
12. Net Economic Monthly Cost of Owning	$740	$8,885	True economic carrying cost after equity build & opportunity cost [4]
13. HUD FY2027 3-Bedroom Fair Market Rent Benchmark	$1,288	$15,456	Net monthly own vs. 3BR rent difference: -$548/mo

Net Monthly Economic Own vs. 3BR Rent: -$548/mo

5-Year Net Economic Cost of Owning: $44,424

5-Year Cumulative Rent (3.5%/yr): $82,844

5-Year Own vs. Rent Advantage: $38,420

Estimated Breakeven Horizon: 4.2 years

07 · Insurance & Carrying Risk

NCRB Homeowners, Wind/Hail, NCIUA Beach Plan Surcharge & FEMA NFIP Flood Coverage ^[3]

NCRB Territory & Base HO-3$1,286/yrNCRB Territory 180NC Rate Bureau filed dwelling schedule

Wind/Hail & NCIUA Surcharge$1,736/yrWind surcharge: $450 ($145/mo)NCIUA Coastal / Soundfront Wind & Named-Storm Deductible Zone

FEMA NFIP Flood Coverage$1,180/yr1,420+ active NFIP policies in countyAE / VE flood zones require elevation review & NFIP/private quote

Insurance Share of Full PITI10.8%With flood (if SFHA): $243/moShare of monthly PITI carrying cost ^[3]

08 · Local Economy, Build Costs & Audited Builder Benchmark

County New-Construction Audit, Strictly BLS PPI Inputs, Audited NVR 10-K/10-Q Benchmark & 4 Decision Rules ^[5] ^[6] ^[7]

8A · Local Economy & Bertie County New-Construction Closings vs. Existing Homes

County Unemployment (BLS LAUS)3.9%Labor force: 8,288 (7,937 employed)BLS LAUS (Sep 2026)

Real County GDP (BEA)$1,018MYoY real change: +2.3%BEA CAGDP9 (2025)

Building Permits (Census BPS)12 SFDTotal units: 14 (+4.5% YoY)Census BPS (2025)

New-Build vs. Existing Price Gap$173,240Existing median: $142,000 (+22.0% premium)New-build share: 15.0% of closings

Table 8A · Bertie County New-Construction vs. Existing Home Closings (Hive MLS & Census BPS)
Cohort	Active Listings	Closed (12m)	Median Sold Price	Median $/SqFt	Premium / Share
New Construction (Built ≥ Prior Calendar Year)	5	9	$173,240	$100/sqft	15.0% of closings
Existing Residential Resales	29	—	$142,000	$85/sqft	New vs. Existing: +22.0% (+18.0% $/sqft)

8B · Construction Materials & Subcontractor Input Costs (Strictly BLS Producer Price Index) ^[6]

Table 8B · BLS Producer Price Index (PPI) Residential Construction Inputs
PPI Material / Input	BLS Series ID	Period	Index Level	MoM Change	YoY Change	Cumulative Since Jan 2020
Inputs to Residential Construction (Composite)	WPUSI012011	Sep 2026	312.4	+0.2%	+2.4%	+38.6%
Lumber & Wood Products (Softwood & Framing)	WPU081	Sep 2026	286.1	-0.4%	+1.8%	+29.4%
Ready-Mix Concrete & Cement Ingredients	WPU1331 / WPU132	Sep 2026	354.8	+0.5%	+5.1%	+44.2%
Steel Mill & Structural Metal Products	WPU1017	Sep 2026	341.2	+0.1%	-1.6%	+49.0%
Sheet Metal, Flashing & Roofing Products	WPU107301	Sep 2026	328.9	+0.3%	+3.1%	+46.5%
Gypsum Building Materials & Drywall	WPU137	Sep 2026	398.5	+0.2%	+3.8%	+51.8%
New Single-Family General Contractor Price Index	PCU236115236115	Sep 2026	189.7	+0.3%	+2.9%	+41.3%

BLS Producer Price Index year-over-year changes across residential construction materials — Figure 8A · BLS Producer Price Index (PPI) Year-over-Year Material Input Changes.

National residential construction pipeline versus BLS PPI input cost index — Figure 8B · Residential Construction Pipeline vs. BLS PPI Input Cost Squeeze.

8C · National & North Carolina Residential Construction Pipeline (Census SOC / FRED)

Table 8C · National & Regional Construction Pipeline Series
Pipeline Series	FRED / Census ID	Period	Current Level	YoY Change	Interpretation
U.S. Single-Family Housing Starts (SAAR)	HOUST1F	Sep 2026	1,012,000 units	+2.8%	Single-family starts remain disciplined as builders match spec starts to mortgage-rate lock windows.
U.S. Single-Family Units Under Construction	UNDCON1USA	Sep 2026	638,000 units	-4.1%	Backlog of unfinished single-family homes has normalized from 2022 supply-chain peaks.
U.S. Single-Family Housing Completions (SAAR)	COMPU1USA	Sep 2026	1,005,000 units	+1.4%	Completed spec inventory provides immediate move-in options where resale inventory is locked in.
South Region New Home Months of Supply	MSACSR	Sep 2026	7.6 months	-0.3 mos	Builders carry higher finished spec inventory than the resale market, funding rate-buydown incentives.

8D · Audited Public Builder Benchmark: NVR, Inc. (Ryan Homes / NVHomes / Heartland Homes) (SEC CIK 0000906163) ^[7]

Filing Basis: Audited SEC Form 10-K & Form 10-Q (XBRL Filings) · Footprint: Mid-Atlantic & Southeast Regional Benchmark (including North Carolina markets)

Table 8D · Audited NVR, Inc. (Ryan Homes) Financial & Operating Benchmark (SEC Form 10-K / Form 10-Q)
Audited Operating / Financial Metric	Reported Value	Prior / YoY Comparison	SEC Filing Basis & Local Builder Relevance
Homebuilding Revenue (TTM)	$10.28 Billion	+6.4% YoY	Audited consolidated homebuilding deliveries across Mid-Atlantic & Southeast divisions.
Homebuilding Gross Margin %	23.4%	-90 bps YoY	Benchmark gross margin after direct stick-and-brick, subcontractor labor, and lot takedown cost.
Selling, General & Administrative (SG&A) %	6.1%	+20 bps YoY	Industry-leading overhead discipline; local custom builders typically carry 9%–12% overhead.
Effective Pre-Tax Operating Margin %	19.8%	-70 bps YoY	Net operating cushion available to absorb mortgage rate buydowns or closing-cost credits.
New Orders (Units, TTM)	22,560 homes	+4.1% YoY	Demonstrates steady absorption for entry-level and move-up product priced near county medians.
Average Settlement Price (NVR Consolidated)	$454,800	+1.2% YoY	Compares against Bertie County trailing 12-month median sold price of $142,000.
Southeast Region Average Settlement Price	$398,400	+0.9% YoY	Closest regional peer benchmark for North Carolina coastal and corridor new construction.
Cancellation Rate (% of Gross Orders)	13.5%	+110 bps YoY	Financing fall-throughs remain contained when builders offer 5.50%–5.99% forward rate commitments.
Controlled Lots via Option Contracts %	96.0%+	Asset-light model	Finished-lot option structure avoids raw-land carrying risk on builder balance sheets.
Total Lot Position (Owned + Optioned)	149,200 lots	+8.2% YoY	Approximately 6.5 years of controlled lot supply across active divisions.
Backlog Units & Dollar Value	10,480 units ($4.88B)	+3.2% YoY	Provides 5 to 6 months of forward visibility on subcontractor trade demand.
Mortgage Banking Capture Rate (NVR Mortgage)	88.0%	In-house lender	Captive mortgage subsidiary funds rate locks and permanent buydowns to protect contract prices.

Local Comparison Note (Bertie County): In Bertie County, where the overall median sold price is $142,000, custom and regional builders face BLS PPI concrete (+5.1% YoY) and gypsum (+3.8% YoY) input costs while competing against NVR's 23.4% gross margin benchmark.

8E · 4 Quantitative Realtor + Licensed General Contractor Decision Rules

RULE 01 · BUY EXISTING VS. BUILD NEWFAVORS NEW / SPEC BUILD

Resale vs. Custom/Spec New-Build Spread

Quantitative Threshold:: Trigger when New-Build Price Premium < 25% and BLS PPI YoY < 3.5%
Current Bertie Reading:: +22.0% new-build premium · +2.4% BLS PPI YoY

With Bertie County existing inventory at 6.58 months and BLS PPI inputs up just +2.4% YoY, buyers comparing a 30-year-old resale needing roof/HVAC work against a new build often capture lower 10-year total cost of ownership on new construction.

RULE 02 · SPEC BUILDER RATE-BUYDOWN ARBITRAGERATE BUYDOWN WINS BY $115/MO

Permanent Mortgage Rate Buydown vs. List Price Cut

Quantitative Threshold:: 1-Point Permanent Rate Buydown (~2.2% of price) vs. 5% Price Reduction
Current Bertie Reading:: 7.24% PMMS · $991/mo full PITI

On a $142,000 contract, applying a 2.5% builder/seller credit toward a permanent rate buydown reduces the buyer's monthly PITI more than twice as much as an equivalent price reduction.

RULE 03 · LOT TAKEDOWN & SPEC INVENTORY GATESELECTIVE / PRE-SOLD ONLY

Price-Band Months of Supply Ceiling for Spec Starts

Quantitative Threshold:: Hold spec starts in any price band exceeding 6.5 months of supply
Current Bertie Reading:: 6.58 mos overall · Core $250k–$349k band active

Concentrate spec starts in the $250k–$450k brackets where pending-to-active ratios are highest; build $500k+ custom homes on pre-sold owner-financed or construction-to-perm draws.

RULE 04 · RENOVATION / VALUE-ADD ALLOWANCE GUARDRAILSTRICT SCOPE AUDIT

Renovation Cost Basis vs. Post-Rehab Cohort Ceiling

Quantitative Threshold:: Acquisition + Rehab (at $145–$185/sqft) must sit <= 82% of renovated cohort median
Current Bertie Reading:: Base median $142,000 ($85/sqft) · Concrete PPI +5.1% YoY

Verify foundation, septic, roof, and electrical sub-bids upfront before waiving due-diligence deadlines—concrete (+5.1% YoY) and skilled trade labor remain elevated (+41.3% since 2020).

09 · Complete 25-Signal Matrix

All 25 Deliverable Market Signals for Bertie County ^[8]

1 · Supply & Inventory Pressure

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#1	Months of Supply (Snapshot)	6.58 mos	Region median: 4.69 mos	Buyer-Leaning	Hive MLS (2026-11-04)
#2	Active Residential Listings	34 homes	Pending: 9 homes	Live Snapshot	Hive MLS (2026-11-04)
#3	Pending-to-Active Absorption Ratio	26.5%	Benchmark: 35.0%	Measured Pace	Hive MLS (2026-11-04)
#4	Trailing 12-Month Closed Sales	63 closings	5.3/mo pace	Verified Closings	Hive MLS (Trailing 12m)

2 · Pricing & Negotiation Leverage

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#5	Trailing 12-Month Median Sold Price	$142,000	Prior 12m: $155,000	-8.4% YoY	Hive MLS (Trailing 12m)
#6	Median Sold-to-List Price Ratio	94.6%	Average 5.4% discount	Negotiable	Hive MLS (Trailing 12m)
#7	Median Days on Market (Closed Sales)	34 days	Region median: 44 days	Fast Velocity	Hive MLS (Trailing 12m)
#8	Cash Share of Closed Sales	41.3%	Region median: 26.4%	High Cash Cushion	Hive MLS (Trailing 12m)

3 · Price Band Segmentation

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#9	Entry-Level Band ($150k–$249k) Active vs. Pending	9 act / 4 pend	19 closed (12m)	Core Entry Tier	Hive MLS (2026-11-04)
#10	Core Move-Up Band ($250k–$349k) Active vs. Pending	2 act / 1 pend	7 closed (12m)	Primary Volume Tier	Hive MLS (2026-11-04)
#11	Upper Move-Up Band ($350k–$499k) Active vs. Pending	2 act / 0 pend	1 closed (12m)	Move-Up Tier	Hive MLS (2026-11-04)
#12	Premier & Waterfront Tier ($500k+) Active Inventory	6 active	3 closed (12m)	Discretionary Tier	Hive MLS (2026-11-04)

4 · Income, Affordability & Rate Sensitivity

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#13	30-Year Fixed Mortgage Rate (PMMS)	7.24%	As of 2026-10-29	Weekly Survey	Freddie Mac PMMS (2026-10-29)
#14	Monthly P&I (20% Down on Median Sold)	$774	22.6% of median income	Conventional Lens	Freddie Mac + ACS (2019-2023)
#15	Full Monthly PITI Carrying Cost	$991	+0.50% rate: $1,030	29.0% of gross income	HCM v2 (2026-11-04)
#16	Qualifying Household Income (28% Front-End Ratio)	$42,500	52.5% of county HHs qualify	3685 qualifying HHs	U.S. Census ACS (2019-2023)
#17	Post-Housing Expendable Residual (HCM v2)	$1,814/mo	53.0% residual share	Healthy Cushion	HCM v2 + BLS QCEW (2019-2023)

5 · Rents & Investor Yield Benchmarks

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#18	HUD 3-Bedroom Fair Market Rent	$1,288/mo	+2.9% YoY	FY2027 Schedule	HUD USER FMR (FY2027)
#19	HUD 2-Bedroom vs. 4-Bedroom Rent Spread	$1,081/mo – $1,432/mo	0BR: $821/mo	5-Tier Schedule	HUD USER FMR (FY2027)
#20	Gross Annual Rent-to-Price Yield (3BR FMR / Median Sold)	10.88%	7.00% investor hurdle	Cash-Flow Viable	HUD FMR + Hive MLS (FY2027)

6 · Taxes, Insurance & Carrying Risk

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#21	County Property Tax Rate & Monthly Escrow	$0.93 / $100 ($110/mo)	FY2026-27	NCDOR Verified	NCDOR (FY2026-27)
#22	NCRB Territory HO-3 & Wind/Hail Estimate	$1,736/yr ($145/mo)	Territory 180	NCIUA Coastal Zone	NCRB / NCIUA (1286)

7 · Builder Costs, Pipeline & Macro Drivers

#	Signal	Current Value	Prior / Benchmark	Direction / Status	Source & Period
#23	BLS Residential Construction Input PPI YoY	+2.4% YoY	+38.6% since Jan 2020	Stabilizing Inputs	BLS PPI (WPUSI012011) (Sep 2026)
#24	Audited NVR Homebuilding Gross Margin Benchmark	23.4%	SG&A: 6.1% of revenue	SEC 10-K / 10-Q	SEC EDGAR (CIK 0000906163) (Latest Filing)
#25	Composite County Market Signal Score	48/100 (Balanced)	Rank #21 of 22 counties	Balanced Regime	Horizon Market Signal v2 (2026-11-04)

10 · Empirical Macro-to-Local Research

Weekly Income, Personal Savings Rates, Fed DFA Liquid Assets, Fed SCF Renter Liquidity & Home Sales

Macroeconomic series do not move local closings instantaneously. Empirical cross-correlations across FRED, BEA, and Federal Reserve Z.1 accounts show a consistent 3-stage transmission mechanism into Northeast NC housing demand:

CHAIN 01 · INCOME TO SALES

Real Disposable Income Growth Leads Home Sales by 2–3 Quarters

Year-over-year changes in real disposable personal income (BEA DSPIC96) lead existing single-family home sales volume by 6 to 9 months.

Series & Fit: FRED DSPIC96 vs. Existing Home Sales · r = 0.54 (n = 120 monthly observations, 2016–2026)

Local Translation: When county weekly wages (BLS QCEW) outpace Southern CPI inflation for two consecutive quarters, pending absorption typically expands in the following spring/summer cycle.

CHAIN 02 · SAVING RATE TO LIQUID ASSETS

Personal Saving Rate Accumulates into Household Liquid Deposits

Periods with personal saving rates above 4.5% (BEA PSAVERT) feed household checkable deposits and money market balances in the Federal Reserve Distributional Financial Accounts (DFA).

Series & Fit: FRED PSAVERT vs. Fed DFA Household Liquid Assets · r = 0.61 (n = 44 quarters)

Local Translation: Move-up and coastal cash buyers (34%+ of regional closings) draw down accumulated money-market and equity gains rather than relying solely on current wage flow.

CHAIN 03 · LIQUID ASSETS TO DOWN PAYMENTS

Renter Liquid Asset Hurdle Governs Entry-Level Price Band Velocity

In the Federal Reserve Survey of Consumer Finances (SCF), median renter liquid financial assets sit near $3,400, creating an acute down-payment barrier without USDA 0%-down or NCHFA assistance.

Series & Fit: Fed SCF Renter Liquid Balances vs. First-Time Buyer Share (NAR Profile)

Local Translation: On a $142,000 purchase, a 20% down payment plus closing costs requires ~$32,660 cash—making USDA 100% financing and VA loans critical for local entry-level velocity.

CHAIN 04 · PPI INPUTS TO NEW-BUILD PREMIUM

BLS PPI Material Plateaus Stabilize Spec Builder Pricing

Changes in the BLS Residential Construction Input PPI (WPUSI012011) pass through into single-family contractor prices (PCU236115236115) with a 1-to-2 quarter lag.

Series & Fit: BLS WPUSI012011 vs. PCU236115236115 · r = 0.78 (n = 120 months)

Local Translation: With composite residential PPI up +2.4% YoY (down from double-digit surges in 2021–2022), local builders can quote firmer fixed-price contracts.

Real disposable income growth leading existing home sales with a 2-to-3 quarter lag — Figure 10A · Real Disposable Income Growth Leads Home Sales by 2–3 Quarters.

Multi-year timeline of real income growth and existing home sales — Figure 10B · Multi-Year Timeline: Real Income vs. Home Sales Volume.

Personal saving rate accumulation into household checkable deposits and money market funds — Figure 10C · Personal Saving Rate → Household Liquid Assets (Fed DFA).

Household liquid asset balances and existing home transaction velocity — Figure 10D · Household Liquid Assets → Down-Payment Capacity & Sales.

Table 10 · Cash Required at Closing on $142,000 vs. Federal Reserve SCF Median Renter Liquid Assets ($3,400)
Loan Program / Tier	Total Cash Required	Ratio to Median Renter Liquid Assets ($3,400)	Feasibility & Program Guidance
Conventional 20% Down + 3% Closing Costs (7.24% 30-Yr Fixed)	$32,660	9.6x median renter liquid assets	Primarily used by repeat equity sellers and relocating retirees rolling prior home equity.
Conventional 5% Down + 3% Closing Costs (with monthly PMI)	$11,360	3.3x median renter liquid assets	Accessible to dual-earner households or buyers pairing savings with seller-paid closing credits.
FHA 3.5% Down + 3% Closing Costs (Eligible for NCHFA DPA)	$9,230	2.7x median renter liquid assets	Can be paired with NC Home Advantage Down Payment Assistance (up to 3%–5% of loan amount).
USDA Rural Development / VA 0% Down (Seller Pays Closing Credits)	$1,500–$3,000 (Earnest + Inspections)	0.6x–0.9x median renter liquid assets	Primary zero-down pathway across eligible Northeast NC rural census tracts and military households.

11 · Footnotes, Methodology & 27 Data Sources

Numbered Footnotes [1]–[8], Methodological Boundaries & Source Licensing

Methodological & Legal Footnotes

[1] Months of Supply & Absorption Arithmetic: Months of supply is calculated as active residential listings at the snapshot date divided by the trailing 12-month average monthly closed sales from Hive MLS. Balanced conditions across Northeast North Carolina historically sit between 4.0 and 6.0 months.
[2] Housing Cost Methodology (HCM v2) & Post-Housing Expendable Income: Dual affordability lenses separate conventional 20%-down principal-and-interest (P&I) from low-down-payment (5% down) full PITI + PMI carrying cost. Post-housing expendable income deducts full monthly PITI and an 18% effective payroll/income tax reserve from gross household income.
[3] NCRB Homeowners, Wind/Hail & NCIUA Beach Plan Surcharge: Dwelling insurance baselines use North Carolina Rate Bureau (NCRB) territory filings for a standard HO-3 frame policy at the county median price. Coastal and soundfront counties incorporate estimated NCIUA Wind Pool / named-storm deductible surcharges; FEMA NFIP flood premiums reflect county policy-in-force averages.
[4] HUD Fair Market Rents & 13-Row Rent vs. Own Economic Ledger: Fair Market Rents are published by the U.S. Department of Housing and Urban Development (HUD) at the 40th percentile of standard-quality gross rents across all 5 bedroom tiers (0BR through 4BR). The 13-row ledger compares recurring monthly cash outflow against net economic cost after year-1 principal amortization, maintenance reserve, and opportunity cost of down-payment equity.
[5] County New-Construction Closings & U.S. Census Building Permits Survey (BPS): New-construction closings isolate Hive MLS residential transfers built in the current or prior calendar year against existing home resales. Permit counts come from the U.S. Census Bureau Building Permits Survey (BPS) annual county series.
[6] Strictly BLS Producer Price Index (PPI) Construction Input Series: All residential construction material and subcontractor cost series come exclusively from the U.S. Bureau of Labor Statistics (BLS) Producer Price Index (PPI) program via FRED (WPUSI012011, WPU081, WPU132, WPU1017, WPU107301, WPU1331, PCU236115236115). No commodity exchange futures or unlicensed vendor series are used.
[7] Audited Public Homebuilder Benchmark — NVR, Inc. (SEC CIK 0000906163): Builder operating margins, gross margin %, SG&A ratios, backlog turnover, and lot option shares are extracted directly from NVR, Inc. (Ryan Homes) audited SEC Form 10-K and Form 10-Q XBRL filings via SEC EDGAR.
[8] Hive MLS Broker Participation & Aggregate Statistical Attribution: Local listing, absorption, price-band, and days-on-market statistics are aggregate calculations produced by Horizon Real Estate Group, LLC, a participating broker in Hive MLS. Individual listings, property photos, and agent remarks are never republished in market reports.

Every figure in the Bertie County Market Signal Report is generated by Horizon Real Estate Group's automated Monday pipeline from primary federal, state, and licensed MLS feeds. No figure is interpolated or hand-edited.

What We Never Do

We never publish individual MLS listing photos, street addresses, or agent remarks in market reports.
We never use unlicensed commodity futures or proprietary broker PDFs; all construction material series come strictly from U.S. Bureau of Labor Statistics (BLS) Producer Price Indexes.
We never conflate email newsletter consent with SMS text consent; each channel carries its own explicit timestamp.
We never alter a past edition without logging an explicit dated correction.

Corrections Policy: When a source agency revises a historical series or an error is identified, we update the current edition and record a dated correction note on the page.

Table 11 · All 27 Data Sources & Licensing Basis — Full Canonical Methodology & Licensing at ncbuyersbrief.com/data-sources/ →
Source	Series / Dataset	Period / Vintage	Cadence	Licensing & Terms
Hive MLS Aggregate Statistics	Active, Pending, Closed, Price Band & DOM Ledgers	Through 2026-11-04	Weekly (Monday)	Participating broker aggregate statistical display (Horizon Real Estate Group, LLC)
Freddie Mac PMMS	30-Year Fixed-Rate Mortgage Average (MORTGAGE30US)	Weekly Survey	Weekly (Thursday)	Freddie Mac Primary Mortgage Market Survey via FRED
U.S. Census Bureau ACS 5-Year	Median Household Income & Tenure (B19013, B25003)	ACS 2019-2023	Annual	U.S. Census Bureau Data API public domain
HUD USER Fair Market Rents	5-Tier County Fair Market Rents (0BR–4BR)	FY2027	Annual (October)	U.S. Department of Housing and Urban Development public dataset
BLS QCEW County Wages	Average Weekly Wage, All Covered Establishments	Latest Quarter	Quarterly	U.S. Bureau of Labor Statistics public domain
BLS LAUS County Unemployment	Local Area Unemployment Statistics (Not Seasonally Adjusted)	Latest Month	Monthly	U.S. Bureau of Labor Statistics via FRED
BLS Producer Price Index (PPI)	Inputs to Residential Construction (WPUSI012011)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
BLS PPI Softwood Lumber	Lumber & Wood Products (WPU081)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
BLS PPI Ready-Mix Concrete & Aggregates	Concrete Ingredients & Products (WPU132 / WPU1331)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
BLS PPI Steel Mill & Sheet Metal	Steel Mill Products & Architectural Metal (WPU1017 / WPU107301)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
BLS PPI Single-Family Contractor Price Index	New Single-Family Housing Construction (PCU236115236115)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
SEC EDGAR XBRL Filings (NVR, Inc.)	Audited Form 10-K & Form 10-Q (CIK 0000906163)	FY2025 / Latest 10-Q	Quarterly / Annual	U.S. Securities and Exchange Commission public filings
U.S. Census Building Permits Survey (BPS)	County Residential Units Authorized by Building Permits	Annual / YTD	Monthly / Annual	U.S. Census Bureau public domain
U.S. Census Survey of Construction (SOC)	Housing Starts (HOUST1F), Completions (COMPU1USA) & Under Construction (UNDCON1USA)	Latest Month	Monthly	U.S. Census Bureau & HUD via FRED
FHFA House Price Index (HPI)	All-Transactions County House Price Index	Annual / Quarterly	Quarterly	Federal Housing Finance Agency public dataset
Zillow Research (ZHVI)	County Typical Home Value Index (Middle Tier)	Monthly	Monthly	Zillow Research public data attribution
North Carolina Rate Bureau (NCRB)	Homeowners HO-3 Territory Rate Schedules	Current Filing	Per Rate Filing	Public regulatory filings with NC Department of Insurance
NCIUA Coastal Property Insurance Pool	Beach Plan & Coastal Wind/Hail Surcharge Schedules	Current Filing	Annual	NC Insurance Underwriting Association public schedules
FEMA OpenFEMA NFIP	Policies in Force & Average Flood Premium by County	Current Year	Quarterly	FEMA OpenFEMA public dataset
NC Department of Revenue (NCDOR)	County & Municipal Ad Valorem Property Tax Rates	FY2026–27	Annual (July)	NC Department of Revenue public tax rate schedules
U.S. Bureau of Economic Analysis (BEA)	Real Gross Domestic Product by County (CAGDP9)	Latest Annual	Annual	U.S. Department of Commerce BEA public domain
BEA Personal Income & Saving Rate	Real Disposable Personal Income (DSPIC96) & Personal Saving Rate (PSAVERT)	Latest Month	Monthly	BEA via FRED public domain
Federal Reserve Distributional Financial Accounts (DFA)	Household Checkable Deposits, Time Deposits & Money Market Shares	Latest Quarter	Quarterly	Board of Governors of the Federal Reserve System (Z.1)
Federal Reserve Survey of Consumer Finances (SCF)	Median Renter Liquid Financial Assets by Tenure	Latest Triennial Survey	Triennial	Board of Governors of the Federal Reserve System
BLS Consumer Price Index — South Region	CPI-U South Urban All Items & Shelter (CUUR0300SA0)	Latest Month	Monthly	U.S. Bureau of Labor Statistics public domain
IRS SOI County-to-County Migration	Inflow & Outflow Household AGI by County	Latest Tax Year	Annual	Internal Revenue Service Statistics of Income public domain
NC Office of State Budget and Management (OSBM)	County Population Estimates & Household Projections	Annual Vintage	Annual	State of North Carolina OSBM public domain

Bertie County Market Signal Report

Bertie County Score & Key Figures