Guess Who’s Number One and Six in National Housing Market Rankings

We have fresh news of a fresh start for Raleigh real estate, Chapel Hill Real Estate and Durham real estate. Reports have just been released from the prestigious research agency, Hanley Wood, of the top 100 U.S. Housing Markets. Guess who came out number one:  the Raleigh-Cary market and number six: the Durham-Chapel Hill market. 

This is no small matter. With the national real estate market still trying to clamber to its feet, people aren’t exactly elated about market conditions overall. For the Triangle, however, things are a lot different. There is reason to be optimistic. The California research firm’s findings not only reflect how things are right now, but they also turn an eye to the future. Economic forecasting, which looks about ten months forward, positions Raleigh, Durham, Chapel Hill at the head of the line for real estate market conditions.  

Researchers used several criteria for ranking national markets. They analyzed current home prices, the employment/unemployment statistics, and area growth potential. Raleigh, Durham and Chapel Hill’s rankings were high due to the fact that the Triangle boasts some of the nation’s highest average household income, has a surprisingly low unemployment rate, and has above-average home prices. 

A recent report from the Triangle Business Journal reports that area home prices will continue to modestly climb over the next year. Already, sales are up by 8% compared to last year at the same time.  I think it is safe to say that stimulus packages and tax breaks have had a dramatic positive impact on sales, and we can expect things to continually improve.  Plus, this is just a great place to live!