Raleigh, N.C.

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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	Select an area:

Raleigh, N.C.

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%

Current rate comparison:

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Key market events

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	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