Raleigh NC Ranked 2nd Best Housing Market In 2023 by NAR

As the real estate landscape rapidly evolves, McKee Homes is proud to be a builder in one of the hottest housing markets in the US! Raleigh, North Carolina has recently been ranked as the second best housing market in 2023 by the National Association of Realtors (NAR). The ranking is based on factors such as affordability, job growth, and population growth.

If you’re looking to move to the Raleigh area, now is a fantastic time! Below we'll outline just a few of the reasons why Raleigh is such an amazing place to call home.

The Rise of the Southern Housing Market

The South is the new hotspot for real estate in the United States, and Raleigh, North Carolina, is leading the pack as the second-best housing market in 2023 by NAR. This ranking considers:

• Housing Affordability: In Raleigh, the cost of living is relatively low, making homeownership a reality for many renters.
• Job Growth: Raleigh's robust job market, particularly in technology and research sectors, is drawing new residents to the city.
• Migration and Population Growth: As more people discover the city's charm and opportunities, Raleigh's population is rapidly increasing. This is a strong indicator of a healthy housing market.
• High Inventory: An increase in active housing inventory and less severe housing shortages than other parts of the country means that buyers have more options when they're looking for a home.

You can view the details of the NAR’s housing market ranking for Raleigh, NC here.

All this is to say — Raleigh is a city on the rise! It's growing quickly and there are plenty of reasons why it's becoming one of the most desirable places to live.

Chief Economist of the NAR, Lawrence Yun, predicts that home prices in the South will climb by at least 5% in 2023 alone. So an investment in this vibrant market now could pay off big later!

A Broader Look at North Carolina Real Estate Trends

North Carolina's real estate market has been making waves in recent years, largely due to its stunning shorelines, mountains, and lively cities. It's not just the aesthetic appeal that's attractive... The market has seen a significant uptick in home prices, indicating a robust demand.

Similar to many other markets across the country, there are indications of a slight slowdown. This indicates a more balanced situation, but not necessarily a cooling off of the market:

• As of February, the average home value in North Carolina was $300,640, up 10.5% over the past year.
• The typical home transitioned to pending status in around 19 days, a testament to the rapid pace of the market.
• Despite a 15.4% year-over-year decrease in the number of homes sold, about 23% of North Carolina homes still sold above asking price.

The shifts in North Carolina's real estate market may be caused by the rise in interest rates. Nevertheless, this area remains one of the most active markets in the US.

Discover Your Dream Home with McKee Homes

If you're thinking of riding the wave of Raleigh's real estate surge, there's no better time than now to explore McKee Homes' new home communities near Raleigh, NC. Here we offer the perfect blend of:

• Convenience: With easy access to major highways, top-rated schools, and thriving job markets, our communities are located in some of the most desirable areas in and around Raleigh.
• Luxury: Our homes are designed with modern, open floor plans, state-of-the-art appliances, and high-quality finishes.
• Affordability: Value is at the center of every McKee Homes purchase. We offer a variety of financing options and incentives to help you get the home of your dreams without breaking the bank. Plus, with the cost of living in Raleigh being affordable, you get more bang for your buck.

Take the Next Step in Your Homeownership Journey

Although the growth rate may not be as high as during the boom of the Pandemic, the future of Raleigh's housing market is still bright. And McKee Homes is here to help you be part of it.

McKee Homes is not just a homebuilder, but a dream builder. We understand that buying a new home isn't just about the building, but the life you envision living within it. Because of this, we offer a variety of floor plans designed to cater to different lifestyles, needs, and budgets. Our unique personalization options allow you to tailor every aspect of your home to reflect your lifestyle.

Don't miss this opportunity to invest in one of the country's top real estate markets. Contact us today to learn more about our new home communities and quick move-in homes near Raleigh, NC. Or you can explore your options here.