Looking to invest in some Raleigh real estate? Now's your time! Raleigh recently landed in the number 2 spot on Zillow's
Hottest Markets of 2018. Zillow reported that Raleigh's income grew by 9% in 2017, and predicted the median home value in 2018 would be $233,900.
Zillow ranks two increasingly hot North Carolina markets – Raleigh and Charlotte – second and fourth on its list for 2018. Both areas boast strong income and population growth, as fast-growing Research Triangle anchor Raleigh becomes better known for innovations outside its life sciences base and Bank of America headquarters Charlotte builds on its reputation as a financial center.
Zillow scaled six variables for the 50 largest U.S. metros and combined them to form a "hotness" score. Here are the variables:
- Zillow's Home Value and Rent Forecast, which forecasts the change in the Zillow Home Value Index (median home values) and Zillow Rent Index (median estimated rents) over the next 12 months
- Recent income using Moody's Analytics estimates from the Census Bureau.
- Population growth using ACS 2015 and 2016 one-year estimates.
- Current unemployment rates using Moody's Analytics estimates from the Bureau of Labor Statistics' Local Area Unemployment Statistics.
- Number of job openings per person using data from Glassdoor.
If you're thinking of buying, now might be your best time!
Written by John Connell
John likes to think he is very gifted. His talents include napping, eating sunflower seeds, growing a neckbeard, Ja Rule karaoke, and napping. Recovering from a knee injury, John is currently limited to bar games like shuffleboard, pool, and darts, and accepts all challengers. An avid sports fan, the only thing he enjoys more than attending a game, is the beach. Don't let the knee injury fool you though, he can still get down on the dance floor!