A Real Estate Market on the Rebound

The Greater Raleigh real estate market posted some of the highest numbers in six months for the month of May 2009.  Some notable stats include:

• Increased pending sales
• Higher average resale prices
• Increase closings

Although the Raleigh NC real estate area did experience a decline in sales and demand, it never did hit the same bottom as many other markets around the country. Not only was the Raleigh area one of the last markets to experience a decline, it also appears to be taking the lead in terms of making a rebound. This is largely because the Triangle area has many things to offer to residents, including a number of employment opportunities with the biotechnology and high-tech clusters, a variety of different universities and a beautiful landscape.

All of these things together are what helped the Raleigh get ranked by Forbes as the number one city where people wish to locate. Similarly, a report commissioned by the Charlotte Chamber of Commerce also ranked the Raleigh-Durham-Chapel Hill area as number one in terms of livability when compared to 8 other Southern metro statistical areas.

Are you starting to see a turn in your local real estate market?