Housing prices up in many of nation’s markets

Posted on 05/09/12 No Comments

A funny thing about real estate trends is that you don’t realize they’re happening until they’re well under way. It just takes some time for us to recognize them.

According to a report in the Wall Street Journal from the National Association of Realtors, median housing prices are up in 51 metros around the country. The article states, “The median price for previously occupied, single-family homes sold in the January-March quarter rose compared with last year in 74, or 51%, of the 146 metropolitan areas tracked by the National Association of Realtors, the trade group said Wednesday. Prices fell in 72 metro areas.”

To many industry players, this could mean we hit the long coveted “bottom” of the housing market. Thus, it’s only up from there.

In the Triangle, most believe we hit it a while back. Prices are still down overall, but a number of other indicators have been trending positively for quite some time. However, we all want to see it happen nationwide.

One thing that provides the Raleigh/Cary/Durham market such an advantage is our healthy mix of critical fundamentals, like jobs and education advantages, both at the university and secondary levels. On top of that, the lifestyle opportunities continue to foster growth. Weather, major sports, well-designed communities and easy commutes are keeping the population growth steady and our local leaders, overall, continue to do a good job keeping it all together.

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