Real estate market looking bright for Raleigh
Raleigh-Durham is one of the South's most booming metropolitan areas. A part of what's called the Triangle, this area is home to the largest research park in the United States, the prestigious North Carolina University and Duke University and countless fine eateries and shops. Raleigh is becoming a popular residential destination for people all over the country.
The homes for sale in Raleigh-Durham are selling for more money and going off the market quickly as inventory decreases. These are all good signs for the local real estate market and Raleigh-Durham home sellers and home buyers.
EON: Enhanced Market News reports that March 2012 home sales were up by 11.2 percent since March 2011. Other market trends showing positive development since the previous year include pending home sales, up by 17.1 percent and overall growth in all four primary counties. The Housing Affordability Index was also up last month, 7.9 percent higher than last year at 194.
The Wall Street Journal's MarketWatch states that all of this positive growth means buyers will need to be prepared for a competitive housing market. With the inventory slightly lower, homes are going to sell quicker and buyers should consider putting in an offer right away on a home they love.