It’s a good time to own real estate in Raleigh! Zillow’s Hottest Housing Markets for 2018 report ranks the North Carolina capital in the number two spot on its list of U.S. cities with the hottest real estate markets.
The list is is an annual prediction based on rising home values and rental prices, steady income growth, abundant job opportunities and unemployment rates. Raleigh came in second only to San Jose, California, which nabbed the top spot thanks to its high number of job openings per person and increasing home values. Charlotte, another large North Carolina city, claimed the fourth position on the list, following Seattle in third.
“Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities [in] health care and finance, while providing a less expensive, but still convenient alternative to the larger and pricier markets in the Northeast,” Zillow senior economist, Aaron Terrazas, told The News & Observer.
Zillow reported that Raleigh’s income grew by 9% last year, and predicted that its median home value would be $233,900 in 2018.
Congrats, Raleighites. Not too shabby, y’all!