The housing cycle: Is Raleigh approaching its peak?

Those who keep track of estate markets know that they run in cycles of good times, not-so-good times and sometimes downright depressing times, like what the markets experienced following the 2008 economic recession.

But the Triangle housing market has been in a pretty strong recovery mode for a few years now. Is it time to start preparing for the market’s peak and impending downturn cycle?

Well, not quite yet, according to a research note by the John Burns Real Estate Consulting firm. Its report, released Thursday, shows a bell curve chart of the 20 largest new home volume markets in the U.S. with the Raleigh market falling somewhere in about the fifth inning of a nine-inning game, to use the baseball game analogy.

Poll: Is Raleigh approaching the peak of its housing cycle?

“Raleigh is one of the Southeast markets that a lot of builders entered and scaled up on during this recovery, which is why we have it a bit higher than Charlotte and much higher than Atlanta,” says Rick Palacios Jr., director of research at John Burns Real Estate Consulting.

Home values in Raleigh, he says, are already 13 percent above their prior peak. Charlotte home values are about 8 percent above market peak, whereas the new home market in Nashville, Tennessee, has been “growing gangbusters” with home values 28 percent above prior peak, Palacios says.

The report shows that about a dozen of the largest new home markets, including all that were mentioned above, are in what Palacios describes as “phase 2” or expansion phase of a five-phase housing cycle: Capital investment is picking up, homes sales and prices are rising, there’s good affordability and moderate construction.

“Many of our clients today are laser-focused on these geographies, continuously adding to their investments in these markets,” Palacious wrote, noting also that investment risk remains fairly muted. “Job growth has come back nicely, with the lion’s share of expansion markets recovering all of the jobs lost during the Great Recession.”

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by: Amanda Hoyle: Triangle Business Journal

Cary lands on Money’s ‘Best Places to Live 2016’

Cary has landed among Money Magazine’s “ Best Places to Live 2016.”

The annual top 50 list ranks cities based on 60 key factors, including education, health care and taxes.

Cary ranked No. 37 and was the only North Carolina town to make the list.

Money says of Cary: “A solid schooling system, a safer community, and increased opportunities for job growth mean living in the smaller town pays off. As part of the Research Triangle of NC State University, Duke University, and the University of North Carolina-Chapel Hill, there are also major employers based in the smaller town, like SAS, which employs over 5,000, or sectors of companies like Fidelity or Verizon.”

Money also cites Cary’s trails and summer concert series among its attractive attributes.  I would also add the  people!

Cary at a glance, according to Money :

  • Population: 154,588
  • Median Home Price: $319,000
  • Property Tax: $3,168
  • Unemployment rate: 4.3%
  • Commute time: 22 minutes

Cary is no stranger to the accolade. In November, it ranked No. 6 on 24/7 Wall Street’s list of “America’s 50 Best Cities to Live.”

by: Marc DeRoberts, Triangle Business Journal

How Triangle universities stack up in U.S. News’ 2017 rankings

Some interested facts about our colleges here:

It’s that time of year again: when U.S. News & World Report releases its annual rankings of the best colleges and universities in the country.

For its 2017 national rankings, three of the four North Carolina universities in the top 100 are in the Triangle.

First up was Duke University, ranked at No. 8, followed by Wake Forest University (27), UNC-Chapel Hill (30) and N.C. State University (92). Each institution’s rank was unchanged from the previous year, except for NCSU, which ranked at No. 89 in the 2016 report ( released in 2015).

In 2015, Duke had a 95 percent graduation rate and a 12 percent acceptance rate. UNC had a 90 percent graduation rate and a 30 percent acceptance rate. NCSU had a 76 percent graduation rate with a 50 percent acceptance rate.

Taking a look at the South category among the regional universities, N.C. Central University in Durham was the only school in the immediate Triangle area to make the list at No. 72. It ranked 65th last year. And in the 16-county Research Triangle region, Campbell University in Buies Creek ranked No. 30, down from 24th last year.

Two Triangle schools landed on the report’s top list of Historically Black Colleges and Universities. N.C. Central University took 13, down from 12th last year. Saint Augustine’s University in Raleigh ranked No. 47, up one spot from the previous year.

by: Marc DeRoberts, Triangle Business Journal