March 19th, 2010 12:22 PM by Andrew Walter May
Raleigh, always ranked highly compared to all other cities, recently was ranked 3rd best place for young and upwardly mobile. Also, home starts are the worst they've been since the Kennedy administration.
All of this while Raleigh attracts 3.9% more people every year (3 times the national population growth of 1.2%). Raleigh was also recently ranked in the top 5 for job growth (2010 expected to be 16% more jobs than 2009).
This means home prices should see a nice uptick. While home prices were only about 1-2% in 2009, we will see a more normal 3% increase in 2011 and 2% in 2009. That's pretty good when the rest of the nation is contracting.
Check out our newsletter at www.adrmortgage.com for more information. Take care. Andy