Triangle real estate market continues to impress

Posted on 07/15/13 No Comments

705 Keystone Park Drive, Unit #15, is a townhome for sale in Morrisville, NC

Real estate agents are always thrilled to see increased activity in the market. However, it’s news that should also be considered for what it means to the region’s overall economic health.

For families who have just moved to the Triangle or are planning to — you’re timing couldn’t be better. The Raleigh-Cary market is poised for significant growth while remaining highly affordable. We’re not in any sort of post-recession bubble or government-backed housing environment. Our market has been allowed to heal on its own and all the vital signs point to a vibrant, healthy immediate future.

The Triangle Association of Realtors published some market updates recently, the most prominent of which is the quarterly sales metric, which is up by 30% from the last. And, when compared to this time last year, the number of homes available for sale has dropped by almost 20 percent.

The inventory numbers require a bit of attention, because it means we could see an uptick in prices as supply dwindles. However, building remains steady and once more homes hit the market come fall, that number should level off enough to indicate a healthy selection of homes are on the market.

Even though a number of families are holding on to their homes (which is also contributing to the supply issue), we remain one of the nation’s best places to own a home. The quality of the neighborhoods, the school system and the ever-growing job opportunities continue to bolster the overall benefits of owning a home in Raleigh, Cary, or Apex, NC.

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