Raleigh home sales jumped more than 31% in 2012

Raleigh home sales jumped more than 31% in 2012.

The National Housing Report for January 2013 showed a positive trend in both home sales and the median price of homes sold. Nationwide, the median sales price rose 7.6% in 2012 (when measured from Dec 2011 – Dec 2012). Sales volume was up by 3.8% during the same period. At the metro level, the trends were varied. Some housing markets experienced price and volume gains much higher than the national average.

The following metro areas had the biggest gains in home sales during 2012. The percentage beside each metro area shows the increase in sales over the last year or so:

1. Raleigh-Durham, N.C. +31.3%

The Raleigh meto-area housing market has a lot going for it. But there’s one overriding factor that boosted home sales in 2012 — population growth. Forbes recently ranked the fastest growing cities in the U.S., factoring in population growth for 2012 and 2013 (projected), as well as economic growth. The Raleigh area was fourth on their list.

The Raleigh-Durham job market is largely powered by the Research Triangle companies, as well as the multitude of colleges and universities located in the area. This attracts young, upwardly mobile Americans — a key home-buying demographic. According to RE/MAX, home sales jumped more than 31% in 2012. Home prices rose more modestly. According to Zillow, the median sales price in the Raleigh area rose by 1.5% over the last year or so.

Read more: http://www.homebuyinginstitute.com/news/remax-home-sales-300/#ixzz2L1KdH4SC