Raleigh Residential Real Estate – Is the Raleigh North Carolina real estate market cooling?
Is the Raleigh North Carolina real estate market cooling?
The Associated Press reported on Friday that sales of new homes fell in June for the first time in four months. The drop in new home sales is consistent with the drop in the number of resale homes sold that have been lower for the past 8 months according to analysts.
If you read yesterday’s blog you will see that resale home sales have not declined in the Raleigh, NC area. Our market continues to hum along. In contrast to some areas of the country where home appreciation rates have been declining, the Raleigh area appreciation rate has increased this year. And a recent study predicts that they will continue to rise over the next 12 months. This was reported this week in the Triangle Business Journal.
Triangle Business Journal – 6:39 PM EDT Wednesday A study released Tuesday predicts that the Raleigh-Durham area will post one of the nation’s five highest home value appreciation rates over the next 12 months. Research released by Veros Real Estate Solutions projects that home prices in Raleigh and Durham will rise about 8 percent over the next year, tying Tampa, Fla., for the fourth-highest rate. Read Full Article: Triangle Business JournalÂ
So as I wrote yesterday, it is still a great time to buy a home or invest in Raleigh residential real estate. If you are considering Raleigh real estate, the Poling Team would love to help. Contact Us for more information.