Home News Raleigh, Burlington housing markets rank in top 15 in U.S.

Raleigh, Burlington housing markets rank in top 15 in U.S.

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Raleigh – Despite recent changes in the Triangle real estate market, Raleigh remains the top emerging market in the United States and ranks 9th among new markets. report From The Wall Street Journal and Realtor.com.

The Index on which the report is based tracks housing market data, economic data, quality of life indicators, and ranks more than 300 metropolitan statistical areas in the United States. “It highlights a healthy local economy, a vibrant local business community, and a housing market that offers shoppers lifestyle features that keep others engaged. Identify markets that appear to be well-positioned for both investors to make purchases to consider,” notes the report.

Raleigh ranked ninth overall, while another area of ​​North Carolina ranked among the top 15 markets in the country.

But it may not be the first region you imagine.

Burlington, located in Alamance County, ranked 15th in the Fall 2022 index. The region ranked No. 2 nationally in the Summer 2022 Index rankings when Raleigh ranked his No. 6.

a one year agoDurham Chapel Hill was 19th, Lowry was 4th and Burlington was 6th.

Now may be the perfect time to buy a home in the Triangle – here’s why

what’s happening in Burlington

While many housing markets are showing signs of slowing down, many of the markets near the top of the list are still experiencing rising market prices.

Still, housing costs remain relatively affordable in certain parts of the country, including Burlington. Including Johnston Countythe median home sales price is below the average across the triangle. latest data From Triangle Multiple Listing Service.

“Compared to the rest of the Triangle and Triad, housing prices are lower and more affordable,” Teresa Brooks said. Keller Williams Central in Burlington. “So a lot of people who think they can’t afford a home in the Triangle or Greater Triangle will come to Alamance County where they can afford a little more for the same price.”

But affordability isn’t the only factor that draws homebuyers to Burlington, Brooks said. Proximity and accessibility to both the Triad and Triangle are key features of why Burlington makes the list of potential markets for those considering moving.

but Mortgage rates on the risesaid Brooks might now best to buy a house Located in Alamance County. This is a cyclical and seasonal market in which homebuyers, including first-time homebuyers, are working with agents and lenders to ensure that underlying market fundamentals still point to future home price increases. Because we can identify creative solutions for buying a home.

One of the first homebuyers who worked with the company to complete a new home on Monday was able to qualify for a program known as a 2-for-1 buydown, even with an FHA loan, Brooks said. said her agent’s team assisted the buyer. She successfully negotiated the seller to pay the fees associated with her participation in the program.

“We’re in a cyclical time everywhere right now, with things slowing down due to the season, but even with mortgage rates rising, it’s still a great time to buy in Alamance County.” said Brooks.

Rising mortgage rates scare buyers.Triangle prices are falling

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