Thursday, February 25, 2010

Triangle Area Ranks Number One in Housing Market Health

Raleigh News and Observer

The Triangle (Raleigh, Durham and Chapel Hill, NC) 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 real estate 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 real estate:

'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.'

An additional note, Fayetteville, Greensboro and Charlotte are all ranked in top 10 lists by Fortune, CNN/, Forbes and NAHB reports. 

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