Tag Archives: Real Estate market Trends

Cary & Surrounding Area: AFFORDABILITY

Home Affordability in Cary & Surrounding Area Hits 26.9% This Particular Week

 Home affordability is listed at 26.9% in Cary & Surrounding Area, according to the latest housing data provided by HouseCanary.

Home prices, mortgage rates and household income are important factors in determining the affordability of a home. The Affordability Index measures median household income relative to the income needed to purchase a median-priced house. This week for Cary & Surrounding Area, the data show a household earning the median income here of $62,794 would need to spend 26.9% of their income to afford a median priced home here, which is currently priced at $270,143. The two-year Affordability Index is forecast to be 31.7%.

This predictive analytics report and e-newsletter is part of a new collaboration between HouseCanary and RISMedia in an effort to bring real estate professionals timely and local housing data in thousands of regional and local markets across the U.S. as well as provide RISMedia’s real estate news, information and business development insights of interest to brokers, agents, service providers and professionals serving the U.S. residential real estate industry.

Property lookup: What is the risk of home values decreasing in your area in the next year? Enter a property street address followed by the zip code to find out:

 

Survey finds Raleigh appealing for new grads looking for jobs

For recent graduates looking for a place to start their careers, the Triangle has a potent combination of good salaries and reasonable rents, according to a new survey.

Indeed.com and Trulia.com teamed up to take a look at markets that combined strong job opportunities and reasonable costs for housing. That’s a critical combinations for graduates, who don’t want to see their first pay checks disappear when the rent is due.

Some markets, such as San Jose and Washington, D.C., promise high salaries but also have extremely high rents.

That’s not the case in the Raleigh, Durham and Chapel Hill area, where rental listings on Trulia.com and job postings on Indeed.com looked promising for those starting their careers.

The survey looked at rental costs and also availability of jobs likely to attract recent graduates.

Money crunched the numbers of the top markets and then ranked them by salaries for new graduates. Yahoo’s survey ranked the Triangle No. 15 overall, with graduates making an average of $2,581 a month. That’s not a bad start in a market where Trulia said 9.8 percent of listings in Raleigh and 7.3 percent of listings in Durham-Chapel Hill were affordable.

Money ranked Houston No. 1 ($3,188), followed by Dallas at No. 2 ($2,925)

by: Dane Huffman, Triangle Business Journal

Triangle has 2 of the healthiest housing markets in U.S.

We’re happy to publish this article telling us that the triangle’s housing market is strong.

Durham barely inched out Raleigh in a new study of the healthiest housing markets in the U.S. – both cities placed in the top 15.

The study, done by SmartAsset, measures each housing market by its stability, risk, fluidity (ease of sale) and affordability. Based on those primary factors, Durham was assigned a healthiest markets index score of 82.71, ranking No. 14 nationally, and Raleigh came in a shade under that at 81.21, taking the No. 15 spot.

Both cities performed among the top in the country in several metrics, including the average percentage of homes with negative equity in which both had less than 10 percent and the percentage of homes decreasing in value, both coming in around the 5 percent mark.

Nationwide, it was Texas that took the top two spots: Plano was No. 1 with a healthiest markets index score of 100, followed by Arlington, with 95.21.  Rounding out the top five were Grand Rapids, Michigan, with a score of 93.84; Pittsburgh (89.36) and Fremont, California (89.04).

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