Profile picture for rwildt

What's the forecast for housing prices in the triangle and why?

Prices have dropped significantly in our neighborhood...10-20% in some cases.  Will this continue or have we finally stabilized and even if the prices don't go up for a while, will the homes hold their existing value for the next 3-5 yrs?
  • March 26 2011 - Raleigh
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Answers (7)

Profile picture for Sharon Lewis
This is an old posting, however I would be interested in seeing where your neighborhood is as we have had a stronger year.
  • November 01 2011
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Profile picture for blank screen EXILED
Personally, I would use the "local info" tab above, download the Excel data files, create an additional row for "assumed inflation" putting in your inflation factor to calculate each next month from 2001 forward (or possibly 1997 forward), and the graph and compare the curves.

The real question is how much the market artificially bubbled, and when the market has fully corrected for the bubble.

Obviously, the local economy makes a difference too, and that is connected to the national and international economy.
  • October 28 2011
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Profile picture for sunnyview
The job market and affordability will have a lot to do with the direction of prices in the next few years.
  • October 28 2011
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Although prices have dropped about 35% nationwide, Raleigh has only had drops near 5-15% or so, depending on the area and price range.  Those further outside of town and higher price points have had more. 

Here are two relevant vidoes:
Have prices hit bottom?[hotlink removed by Zillow moderator]

Where will prices still fall, likely?[hotlink removed by Zillow moderator]
  • October 27 2011
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First let me say you have two housing systems right now, the one renters are viewing, and the one sellers are viewing.  Perhaps we won't see another significant drop in the triangle area, but the current pain will last for quite some time.  As a buyer I wouldn't try and time the market as finding a great deal is more important, but as a seller prepare yourself for what I call a long term bump along the bottom.  One major issue you must consider is that interest rates are at all time lows and the market is still seriously struggling.  I don't believe inflation as a whole will be an issue but food and energy will be so essentially the fed has used most of it's bullets and now there are still major issues to be handled.  Historically unwinding extremely loose monetary policy hasn't gone well either. The triangle has a lot going for it but the macro issues with the American economy are extremely concerning.  Long term I feel that most of NC will emerge has a premier place to own a home but I expect we'll be looking at 5 years or so before you see any significant rebound in prices.  In a way I'm not too negative on the market though because from a buyers stand point I think there are great deals out there to be had but I do sympathize with sellers.

[Edited by Zillow moderator to remove contact information.]
  • April 03 2011
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Making that prediction is like trying to catch a falling knife.  It's tough to say really.

Many people believe that we are either at the bottom, very close or already turning up from it but the fact remains that there is still quite a bit of risk inherent in the marketplace.

You might find a Realtor that can provide you with a Comparative Market Analysis so that you can make a more informed decision for yourself and your family. 

Of course it really is a fantastic time to be buying and owning a home when compared to renting since rates are still at historical lows and we know inflation is on the horizon.
  • March 26 2011
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I think it's still too early in recovery to pass judgement on whether prices have leveled off.  Activity is definitely up though, which would be the first step.

The answer lies in your neighborhood - each neighborhood may have some characteristics which affect its potential value.  Which neighborhood do you live in, and perhaps I can give you a better answer.
  • March 26 2011
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