People often wonder how a particular market is fairing in today’s volatile economy. Well, the answer is clear when it comes to Raleigh, NC. With interest rates at an all-time low, it is definitely a buyer’s market.

Over the years, Raleigh has demonstrated all the characteristics of a stable housing industry. Referencing the chart below, it is easy to see that Raleigh’s Home Value Index has remained much flatter than other comparable markets. This is an indication of a stable market. Price fluctuations have been minimal while still maintaining a positive gain over time.

Orlando is a prime example of a boom market. Much like many of the California markets, price fluctuations have been very dramatic over the years. These areas have experienced rapid value increase over recent years but are now experiencing the shocking downfall.

Midsize locations, such as Raleigh, Richmond and Charleston have remained relatively stable, with Raleigh slightly outperforming the competition. Since 2005, Raleigh has shown positive home value growth, a rare feat in today’s economy. This growth gives assurance to new homebuyers that their investment will continue to develop as a sound asset in the future.

There has been a lot of discussion surrounding today’s interest rates. So just how good are those rates? The chart below shows the average 30-year fixed rate by year for the past few decades. Rates are at their lowest since 1972, making today the best time to buy in 37 years!

Raleigh has continued to add jobs to support the rapidly growing population. Approximately 65,000 jobs have created since 2005. In addition, Raleigh experienced one of the top population growths of any metro market in the country over the past five years, growing an astonishing 5 percent annually. For these and numerous other reasons, Raleigh was named the No. 6 Healthiest Housing Market for 2009 in the country. Read the article here.

Taking all these factors into account, it is apparent that Raleigh, NC is one of the few markets in the country displaying continual growth. This translates into a vast amount of potential for the future. Home prices and inventories benefit buyers, as do the current interest rates.

If you want to take advantage of all the benefits buying a home in Raleigh will offer, give me a call today. I can help you find exactly what you’re looking for!

Tags: California, Economy, Interest rate, Population, Raleigh, Raleigh North Carolina, Real estate pricing, United States

This entry was posted on Wednesday, January 13th, 2010 at 6:34 pm and is filed under Facts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.