School enrollment caps hurting housing markets

North Carolina real estate agents say housing markets in parts of Wake County, including Raleigh and Holly Springs, have been feeling the impact of the school district’s decision to cap enrollment at 20 schools as home construction continues to outpace school construction.

One couple backed out of plans to buy a house because enrollment was capped at the elementary school down the street, The Cary News Reports. Even though they did not have children, the would-be buyers were concerned about the impact on resale value.

Another seller decided to take his home off the market “to get more clarity on the school situation.” The Wake Country school district plans to open five new elementary schools in the next two years. Source: