In it’s second annual report, Inman News recently published its list of the Top Real Estate Markets to Watch for 2012. At the top of the list: Raleigh, NC!
To create this list, Inman News examined housing, economic and demographic data for metropolitan areas nationwide. Other factors included above-average price appreciation, a flourishing job market, a high rate of sales in proportion to population, a high level of home affordability, low foreclosure activity, a below-average share of distressed sales, a low vacancy rate, and other characteristics indicating a healthy housing market.
The 10 markets are, in order: Raleigh-Cary, NC, Wichita, KS, Rochester, NY, Des Moines-West Des Moines, Iowa, Chattanooga, TN, Peoria, IL, Amarillo, TX, Binghamton, NY, Waterloo-Cedar Falls, Iowa, and Bloomington-Normal, IL.
Despite a steep drop in sales, the Raleigh-Cary market saw considerable price appreciation last year, with its median sales price for single-family homes jumping 7.3 percent from third-quarter 2010 to third-quarter 2011.
At $224,300, the Raleigh-Cary metro had the highest median sales price among the 10 markets on this list and was the only market with a median sales price above the U.S. median. Nonetheless, its affordability rate stayed above the national level, with 73.6 percent of its homes affordable to households earning the area’s median income, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
Source: Inman News