Raleigh, NC - Local Housing Data - Summary

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Raleigh, Cary, NC

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Raleigh, NC Local News

  • M I Homes' Raleigh Five Points Townhome Buyers Get a Tax Break

    Triangle Business Journal staffer Amanda Jones Hoyle reports that North Carolina brownfield reuse law will get buyers a tax break at M/I Homes' infill housing project near Five Points in Raleigh.

  • Raleigh, NC - December 2013 - New Home Closings Figures Signal Market Rise Slowing

    New home sales climbed in December. Average prices of new homes moved up, rising 11.5%. The percentage of new home closings belonging to attached homes dropped, falling 6.2% percentage points. The percentage of new home closings belonging to single family homes rose, climbing 6.2% percentage points.

  • Settle Down Now: Top 10 U.S. Cities for Child-Rearing

    What do you look for when finding a place to settle down and raise a family? A 2014 study based on seven metrics (median income, cost of living, housing affordability, commuting delays, percentage of families owning a home, crime rate, and education quality) highlights the U.S. cities that are best...

Freshest Numbers For Raleigh Show New Home Closings and Prices Increase

Posted on: Apr 06, 2014 07:34:53 AM

Closings of new homes in the Raleigh, NC market jumped year-over-year in January, and there were hints that the market may be gaining momentum as the percentage gain proved better than December 2013. There was a 16.0% hike in new home closings from a year earlier. This was after the housing market saw a 9.4% climb year-over-year in December.

A total of 5,868 new homes were sold during the 12 months that ended in January, up from 5,815 for the year that ended in December.

As a percentage of overall housing closings, new home closings accounted for 26.6%. This is an increase on a percentage basis, as new home closings were 23.1% of total closings a year ago. After increasing in December from a year earlier, closings of new and existing homes remained level in January.

Pricing and Mortgage Trends

The average price of new homes jumped year-over-year 9.1% in January to $306,338 per unit. This boost is smaller than the 11.6% gain in December year-over-year.

There was a boost year-over-year in the average mortgage size on new homes along with new home prices. In January 2014, the average mortgage size was $259,011, up 8.1% from a year earlier. In December 2013, average mortgage size increased 8.5% from a year earlier.


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