Raleigh-Durham Real Estate Market Defies Housing Trends
April 19, 2007 11:30 AM
In recent months, markets across the US have witnessed a slew of reports about the softening of the real estate market.
The news is much different in the Triangle Region of North Carolina (Raleigh, Durham, Chapel Hill and surrounding areas). According to research conducted by the National Association of Realtors, new home sales and existing home sales in North Carolina were both up from their 2005 numbers, a glaring difference from the downturn witnessed in many other US locations.
These factors, alongside a very affordable housing market lead the long list of reasons why investors across the US are refocusing their energies on the Triangle Market. Reasonable housing costs and a wealth of local educational institutions (including Duke, UNC, NC State, NC Central and Shaw) create a consistent demand for housing. This demand supports rehabber resale efforts, as well as rental cashflow opportunities.
In addition to these local norms, the Raleigh-Durham-Chapel Hill market has received accolade from several 3rd party sources, including the following:
1) Best Place To Live (CNNMoney.com- Cary ranked #34 and Durham ranked a strong #92. Raleigh, Chapel Hill and Apex were all contenders).
2) #2 Best Place For Business And Careers (Forbes- 2005)
3) Cary ranked as the 8th Safest City in The US (City Crime Rankings 13th Edition - Morgan Quitno Press)
4) America's Best Places To Live and Work (Raleigh-Durham ranked #1 in 2003- BestJobsUSA.com)
It's no wonder why migration to the Triangle remains strong and the real estate market has continued its steady increase over the years.
For more information about the Triangle, contact Tiffany Elder, MBA, Broker/Realtor.
Tiffany Elder, MBA
Broker, Realtor
Realty Executives Triangle Southpointe
Direct: (919) 260-2507
Fax: (866) 854-4717
www.tiffanyelder.com
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