US News and World Report has just come out with the hottest real estate markets in the United States for 2024. The Raleigh North Carolina metro came in number two, and the Durham Chapel Hill metro came in four out of all the markets in the country. We’re going to go into detail about why this is happening and why Raleigh Durham is a great place to live.
Why are the Raleigh and Durham Chapel Hill metros doing so well? Well, it all comes down to the growth and resilience of our markets. We have a ton of people moving into the area because of the great job opportunities or opportunities in setting up their own business. Also, the demand is outpacing the supply. Builders simply are not able to build enough houses for everyone to come in. In addition, there’s just not as much inventory of available resell homes in our market.
Our area has a strong and diverse economy because of the Research Triangle Park which is located between Durham, Chapel Hill, and Raleigh. Many people are moving for job opportunities in RTP or the potential to find a job because so many companies are still hiring. Big companies such as Apple, Google, Disney and many others have made announcements they’re either here or coming here. There are startup companies as well. We’ve created a very collaborative business environment which has allowed people to come up with innovative ideas to start a business and meet business partners and investors.
Next reason why our metros are on the US News and World Report is a relatively cheaper cost of living. Food, rental, and housing costs are relatively less than what you may find in other parts of the country. Many people find that they can live on less money and therefore have more money in the bank.
Next on the list is the better quality of life. US News and World Report ranked the Raleigh metro as the 13th best area of the country for quality of life and that’s because the people who live in the Raleigh area are generally happier. We have access to green space, parks, and walking trails giving you an opportunity to get out and walk, run, or bike. There are many festivals and cultural events that happen throughout the year as well. Many come to our area for the highly rated schools, such as UNC Chapel Hill, NC State, Duke University, Shaw University, NC Central, Meredith, and St Mary’s. We also have some very high-quality schools at the elementary, middle, and high school level. All of this encourages people to move here and bring their families.
Next, we have our temperate climate. On average we don’t get a lot of rain or snow and our average temperatures aren’t too low or too high. Most people are going to find our area is not a big inconvenience or hassle for them, especially in the winter.
Finally, our area is geographically ideally suited for transportation around the east coast and of course because of our airport, Raleigh Durham International Airport, you can get pretty much anywhere in the country or anywhere in the world. Raleigh Durham International Airport is one of the fastest growing airports in the entire country. Many carriers offer non-stop or One-Stop flights to pretty much anywhere in the country and the world. It provides an opportunity to go back to where you’re from to see family again or if you must head out on a business trip, it’s easy to go pretty much anywhere.
So, how does all this information affect you? Well, if you’re considering making a move, the Raleigh Durham Metro area is an ideal place and a solid place to invest for long-term growth, happiness, and overall quality of life. Our real estate team would be honored to be your agents of choice. You can email us, [email protected], or give us a call, 919-964-0470. We are excited to help you get started!