Raleigh Housing Market Ranks First

Below is an except from an article from the News and Observer. This is great news for our market and our sellers and buyers!

Raleigh Housing Market Ranks First

STAFF WRITER DAVID BRACKEN

The Triangle has received more affirmation that it is better-positioned than most regions to emerge quickly from this recession.

Hanley Wood Market Intelligence, a California research firm, has ranked the Raleigh-Cary market first and the Durham-Chapel Hill market sixth on its list of the healthiest markets among the top 100 U.S. housing markets.

The rankings are based on home prices, employment conditions and income growth potential. This is the second Market Health report released by Hanley Wood. The first was published last year.

Jonathan Smoke, senior vice president of products and innovation at Hanley Wood, had this to say about Raleigh: "Based on end-2010 economic forecasts, we think Raleigh will be the healthiest of the largest 100 markets in the country. Raleigh comes out on top because of stronger employment conditions, moderate household income growth, and continued strong household formation. The market still is expected to see minor home price declines (approximately 3 percent decline expected for 2010 over 2009), which is one factor that keeps the market from being even stronger."

Link to article-
http://www.newsobserver.com/business/local_state/story/346681.html