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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Raleigh, N.C.
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Raleigh is among several Southern cities not susceptible to a housing bubble, according to John Burns' Housing Cycle Barometer. The town has a strong 20- to 34-year-old population and well above-average annual growth in residents, Ingo Winzer says. The NAR finds that it's one of the strongest markets in the South, with median single-family prices in fourth quarter 2006 rising 14.5 percent over fourth quarter 2005. Ingo Winzer says a period of overbuilding and stagnant values is likely, however, in the short run.
4th quarter 2006: $226,300
Median price 4th qtr 2005: $197,700
% change: 14.5%
Projected avg price end of 2007: $236,100
Current avg 30-year fixed rate: 5.77%
Current avg 5/1 ARM rate 5.53%
*Affordability rating: 2.2
Foreclosures in Jan. 2006:
(1 for every 955 households)
345
Foreclosures in Jan. 2007:
(1 for every 1,194 households)
276
Change in foreclosures: -20%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
12-05: Median price $197,700
01-06: 30-yr fixed rate at year's low 6.10%
06-06: National median home price: $227,100
06-06: Fed makes last of 17 rate hikes
07-06: 30-yr fixed rate at year's high 6.80%
12-06: Median price rises 14.5% to $226,300
01-07: National median home price: $210,600
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.12%
15 yr fixed mtg 3.14%
5/1 ARM 3.25%
Rates may include points
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