In 2024, the housing market is positioned for robust growth, particularly in the Durham-Chapel Hill area, identified by the National Association of Realtors (NAR) as one of the top 10 markets benefiting from pent-up housing demand. The NAR's analysis of the 100 largest metro areas reveals that these markets, including Durham-Chapel Hill, have a substantial pool of "returning" buyers exceeding the national level. This indicates a strong pent-up demand, supported by favorable indicators such as job growth, income growth, and crime rate. With the Federal Reserve halting interest rate hikes, lower mortgage rates are anticipated, making homeownership more affordable for millions of households. The influx of buyers, coupled with returning sellers and a potential increase in construction, points towards a dynamic real estate landscape in 2024. These 10 cities are primed for a housing market boom in 2024 according to the NAR.
1. Austin, Texas
2. Dallas, Texas
3. Dayton, Ohio
4. Durham/Chapel Hill, North Carolina
5. Harrisburg, Pennsylvania
6. Houston, Texas
7. Nashville, Tennesee
8. Philadelphia, Pennsylvania
9. Portland, Maine
10. Washington, DC; Arlington/Alexandria, Virginia
Click here for the full report
This blog was written by REALTORS Rose Farrales and Seth Gold with BOLD Real Estate. If you are looking to make a move in the Triangle area, connect with Seth and Rose at 984-291-0884.
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