The latest Emerging Trends In Real Estate 2017 report is out!
This report is by the Urban Land Institute and PwC, and it looks at real estate markets in the United States and Canada. The report is a trends and forecast publication that is highly regarded in the real estate industry.
Importance of Issues for Real Estate in 2017
The report begins by ranking trending issues by importance to the real estate market. Below are the top items; check out the report to see the full list.
Top Important Economic/financial Issues
- Job and Income Growth
- Interest Rates and Cost Of Capital
- Macroeconomic Issues (inflation, dollar strength)
Top Important Social/political Issues
- Terrorism/war/epidemics
- Social inequality
Top Important Real Estate/development Issues
- Land & Construction Costs
- Capital Availability
- Infrastructure/transportation
- Housing costs & availability
Raleigh NC Real Estate Market Stands Out
Raleigh, NC is no stranger to being recognized for excellence, and this report shows Raleigh/Durham continues to get even better.
In this year’s Emerging Trends In Real Estate report, Raleigh does especially well!
The report is large, so let’s focus on what it has to say about the Raleigh NC real estate market.
U.S. Markets To Watch
“Opportunities still exist within most markets. A number of investors view markets with challenges as opportunities waiting to happen.”
In the Markets To Watch section, the Raleigh/Durham area was highly ranked:
- 7th in Overall Real Estate Prospects
- 1st in Home Building Prospects
Raleigh 7th Overall – From Emerging Trends In Real Estate 2017
Raleigh 1st in Homebuilding Prospects – From Emerging Trends In Real Estate 2017
“Strong markets include Raleigh, Denver, Dallas, south Florida, Charlotte, Nashville, and Seattle. These locations have good job and population growth. These markets were susceptible to too much supply in the past; the demand was always there. This cycle, new supply hasn’t gotten out of hand.”
The report goes on to show why the Raleigh NC real estate market ranks so well:
“The Raleigh/Durham market in North Carolina ticks a lot of the boxes for real estate success: affordable living and business costs, a concentration of research universities and colleges, home of the state capital, and a moderate climate. These features continue to draw interest from the real estate investment world.”
Then, the report notes the emergence of attractive new neighborhood developments.
“The Raleigh/Durham area is an example of a market that is thriving without having a dominant urban core. What the area offers are multiple neighborhood cores that residents find attractive. One ULI focus group participant noted, “If residents don’t have a true live/work/play option, they will often choose live/play and then opt to commute to work.” This mind-set is helping spur a number of live/play neighborhoods throughout the market.”
“All property sectors continue to show improvement in the Raleigh/Durham market. New development is showing an increased interest in mixed use. While Raleigh/Durham is still an auto-dependent market, new plans are being put in place to allow residents and workers the option of combining work/play,
work/live, or live/play in one location. This change in mind-set is even evident in new development at traditional campus-style business parks.”
Local Market Perspective
Overall, the Raleigh NC real estate market is improving and ranks as Generally Good for real estate prospects.
From Emerging Trends In Real Estate 2017 Report
- Investor Demand: Improving
- Development/Redevelopment Opportunities: Improving
- Availability of Debt and Equity Capital: Average
- Local Public and Private Investment: Average
- Local Economy: Improving
Invest In Raleigh Real Estate
Whether you’re a Triangle resident thinking about purchasing a home or a real estate investor considering the Raleigh/Durham market, you want a local real estate specialist with the experience to help you choose the right property for your needs.
Contact me, Elisa Moore, at 919-887-5117 to learn more about buying in the Raleigh/Durham real estate market.