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Real Estate Forecast 2020 – Raleigh/Durham Area
Raleigh/Durham Area Real Estate Forecast 2020 – As in recent years, the Triangle real estate market is expected to prosper in 2020. Local and national indicators show that 2020 will be a strong year in the Raleigh/ Durham/ Chapel Hill area. The local economy is expected to bring more jobs and continue our low unemployment rate. Rents are increasing for both apartments and private rental homes, so residents who can buy are motivated to do so to help keep within their monthly budget.
LocationLocation is relative in the Triangle area. We have grown in all directions so smaller suburbs like Holly Springs and Knightdale are growing by leaps and bounds because that is where builders are able to find land to build new homes.
Buyers want to maintain a reasonable commute to work and/or the RDU airport. A 30-minute drive to work is the preference, but as traffic increases, buyers are choosing homes on smaller lots or older homes to keep reasonable drive times. Even with more buyers working from home full-time or a couple of days a week, they want to stay convenient to the gym, places of worship, and leisure such as golf, tennis or swimming.
SchoolsSchools are also a big factor. Buyers with ... more

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