Our Capital City recently earned recognition from real estate research website Trulia as one of the top 10 metro areas to recover from the housing downturn of 2012.
Trulia compared housing prices, job prospects, rental vacancies and increases, and wage growth in the top 100 metro areas to determine the turnaround towns and those that continue to struggle. Trulia reported “strong gains in the economy have helped North Carolina cities stand out as being a strong area for both renters and owners since 2012.”
Our Raleigh market ranked seventh among the best places for homeownership and ninth best to rent since the housing market bottomed out four years ago. Data presented for the market indicated:
- 10.71 percent job growth, more than 4 percent over the national average
- 6.72 percent change in wages
- -21.03 percent vacancy rate
- 13.12 percent change in home values, nearly 4 percent more than the national average
This isn’t the only accolade the city of Raleigh received this month that may interest homebuyers. The Milken Institute ranked the Raleigh-Cary metro sixth on its “2015 Best Performing Cities” list which reviewed job growth, wages and salaries, and high-tech industry growth within the area.
Read the full Trulia article on the “Turnaround Towns and Towns Stuck in the Downturn,” click here.