Triangle Area Real Estate News & Information

As leader of the NC Homes real estate team, it's critical that I know not only have a detailed understanding and knowledge of the local real estate market, but also monitor the general economic trends affecting the local economy of Durham, Chapel Hill and Raleigh, collectively referred to as “the Triangle or the Research Triangle.” to that end I'm constantly scouring a variety of industry specific sources.

Today I read over the Wells Fargo North Carolina Economic Outlook commentary produced by Mark Vitner (Senior Economist at Wells Fargo) and his staff. As might be expected they have a number of concerns for the State predominately concerning the Global economy and the upcoming challenges surrounding the resolution of our own homegrown “fiscal cliff.” {Wells Fargo Report}

Personally I'm confidant that there's very little any of us can do in terms of solving the issues facing the Euro Zone and so there's no use in expending too much energy considering it. As to the Global economy, I feel that the entire world is going through another cyclical “ economic revolution” similar to the changes that took place during the industrial revolution, which was followed by the technology revolution. Presently we're in the midst of what I consider the post technological global industrial revolution, and for the most part I remain optimistic that the Unites States will not only find its way but will in fact be a highly successful player in the new world economy. On the matter of the “fiscal cliff” I expect that a solution will in fact be worked out that no one will particularly like which will indicate it's actually the right solution as this indicates a successful compromise with neither side getting exactly what they wanted to the benefit of the country as a whole.

As I digested the report what struck me as significant was that here in the Triangle that unemployment was just a tad over 7.5%, below both state and national unemployment levels. That housing market has not only stabilized but has seen appreciation over the past 24 months. (Note the graph shown is specific to Raleigh only and other sources clearly indicate that parts of Wake, Durham and Orange Counties have actually seen better appreciation in values that indicated by the chart included in the Wells Fargo report) New housing starts are up and projected to continue climbing and most importantly that the local economy in the Triangle is expected to continue out performing both the state and country as a whole.

I'm always ready and eager to chat real estate. Whether you're looking to buy a home, ask about real estate, or just simply chat about food, I'll be happy to set something up. Contact me online or by phone today!