Raleigh-Durham-Chapel Hill market named one of best for first time home buyers

Posted on 04/15/14 No Comments

713RushingFalls_front

713 Rushing Falls Place is a home for sale listed by Ann & Amy Real Estate.

Raleigh-Durham-Chapel Hill, collectively, has been named by Bankrate.com as one of the nation’s 12 best markets for first time home buyers.

We’re not surprised.

In general, the Triangle offers outstanding home value. Now, that doesn’t necessarily¬†mean the prices are low. Rather, it means that you get a lot for your money, especially when you add in the value of the Triangle’s lifestyle amenities.

Between world-class universities and one of the world’s foremost corporate research and development centers in RTP, buying a home here means buying a home in a place where a lot of people want to live. There’s also the lure of college athletics, terrific weather (this winter notwithstanding) and access to the coast.

Today, the Triangle’s job market is hovering just under 5%, which is well below the national average. Our more than 9,400 current listings have an average sales price of $227,500. Bankrate.com reports a home inventory of 98 days. However, the spring buying season is just getting underway so we can expect more inventory to see the market in the next couple of months.

First time home buyers are finding homes available that banks want to finance, which is because of everything we have to offer. Banks, like any other investor, aren’t interested in putting money into depreciating assets. The Triangle’s first time home buyers tend to be better prepared to own as well, which helps it stand out from other regions of the country.

 

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