Real estate prices are continually changing.
Almost always, home values appreciate in the long term.
But, in real estate there are no "sure things".
When your house appreciates you have more resources to borrow against, and you'll create a greater profit when you sell.
There are different reasons why property values in Raleigh rise and fall. So, how will you be sure what you're purchasing right now will appreciate over time?
It's critical that you select a REALTOR® in Raleigh who understands the factors that affect local prices.
What is the biggest factor impacting real estate appreciation? Many think that it's the economy.
It goes without saying that
there are quite a few issues on a national level that alter your house's value: unemployment, interest rates, the stock market, and more.
But the most influential things that figure your house's value are particular to the local Raleigh economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a significant influence on almost all home buyers' decisions.
So those regions usually appreciate, or carry their value, best.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much or offer concessions A lot of data can be obtained from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the area considered desirable because of its location or affordability? Have property prices gone up or down over the last 5 to 10 years?
Local economy - Is there a good combination of work in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
These items play a role.