Jul 09, 2014
Raleigh recently received some must-deserved recognition for its local real estate market, according to a recent article I was reading.
Evidently, our beautiful city was identified as having one of the strongest markets in the entire country. In fact, we came in at number 5!
This is an incredible honor for anyone who calls Raleigh home. But it’s also great news for anyone planning to navigate the market anytime soon as a buyer.
More Information on this Recent Accolade for Our Wake County City
The stability of the real estate market is crucial to determining the overall health of the city, especially given that so much money is often tied up in real estate.
To explore this connection, Bloomberg teamed up with Zillow to study which of the country’s 50 largest housing markets had been the riskiest during the last 35 years.
Specifically, for each of the 50 largest housing markets, Zillow.com analyzed average home prices over 117 rolling five-year periods since 1979.
Risk of loss was defined as the percentage of those periods that created negative returns for homeowners. If there was a tie between market, those with the bigger drop in their worst years were ranked as riskier
As part of that study, they determined that Raleigh is the fifth most stable market in the country.
Here are some of the factors they considered:
- Buyer’s chance of suffering loss
- The worst annual losses home owners have experienced since 1979
When they were done, here’s how things shaped up for Raleigh:
- Raleigh’s worst year was from July 1981 to July 1982, when the average home prices dropped to below 5 percent.
- Its risk of loss was 9 percent.
Meanwhile, Buffalo, New York was the most stable market with zero percent risk of loss, and Hartford, Connecticut was the riskiest market with 36.8 percent risk of loss.
Ready to Invest in your Own Raleigh, NC Home?
As you can see, Raleigh not only has a recent past of being a great place to live but a lengthy one! Since at least 1979, this community has been a wonderful choice to make a solid real estate investment.
If you’re ready to take the next step toward making this community your next home, please contact me, Rachel Kendall, and my team of real estate experts, today!
We would love the opportunity to help you find the Wake County area home of your dreams on the local housing market!
Until next time,