This is why Raleigh, North Carolina is one of the hottest real estate markets in the United States right now, and why your family should relocate to Raleigh ASAP!
Homes for Sale in Raleigh, NC
The most important thing to disclose about Raleigh is that the city is currently a buyer's market (2021), which means that the supply of homes is currently greater than the demand for homes. This being said, the demand for homes is certainly on the rise and has been on the rise for some time. Eventually, the buyer's market will flip to a seller's market, and prospective families looking to settle down in a new city should get in now (before the flip) if their intention is to maximize value on their real estate purchase(s). Raleigh is HOT right now! Local demand is climbing! Prices are [slowly but surely] on the rise as the city continues to head in a progressive direction! And the sudden emergence of these trends (which seem to indicate demand for homes will soon outpace supply) is due to several factors that collectively make Raleigh a desirable place to live.
What makes Raleigh a desirable place to live?
Raleigh's Booming Economy & Blossoming Job Market
Due in large part to the recent and explosive growth of the technology sector within the nearby Research-Triangle area, Raleigh is quickly becoming a great place to get jobs in fields such as science, technology, education, and mathematics. Throughout the past 10 years, job growth in Raleigh increased by 3.51% year-over-year while median household incomes grew by 3.57%. This is significant both for the local industries that make up the Raleigh job market and also for all those individuals who stand to benefit from resulting opportunities within the Raleigh real estate market. This is because tech jobs pay a much higher annual salary than non-tech jobs, and the expansion of the tech sector and creation of tech jobs within Raleigh effectively inflates the average annual salary within the Raleigh job market which, in turn, also inflates real estate value and prices. Seeing as how there seems to be no end in sight to this inflation, it is reasonable to assume that real estate in Raleigh will continue to increase in value over the next decade.
Growth Potential Within Raleigh's Real Estate Market
Raleigh-Durham is ranked as the #1 large market for housing construction growth and development in the year 2021 as more and more people migrate from surrounding areas and the need for affordable housing in urban areas continues to grow. The fact that the area ranks as high as it does in this category indicates that the potential for growth and expansion within the real estate sector is MASSIVE. Industries such as housing, construction, interior design, design build, and others are poised to benefit from the inevitable increase in real estate and property values across the board in Raleigh, Durham, and Chapel Hill over the span of the next decade. Big corporations like Apple and Google are also in the process of finalizing plans to build new locations in the Research-Triangle area. If this occurs, and it looks like it will, homes and corporate properties in Raleigh will undoubtedly increase in value as these technology companies bring jobs, influence, and national attention to the Raleigh-Durham area.
Raleigh's Food, Parks, Amenities & Other Local Attractions
Raleigh residents will be the first ones to tell you that the city and surrounding cities are overflowing with popular options for a day out with the family. The restaurant scene in Raleigh, and Durham as well, is highly regarded as one of the premier food destinations in the entire country. Wherever you go, there is delicious food around every corner at an accommodating range of prices. Local parks are also incredibly popular. The famous (and historic) Pullen Park and William B. Umstead State Park are among some of the most popular, especially for Raleigh families with children. Speaking of children, there are also a number of awesome museums that cover a range of interesting subjects and topics, most of which are engaging to adults as well as their children. So whatever it is that you enjoy doing, rest assured that Raleigh has something for everyone!