Barbara Corcoran, a real estate expert and motivational speaker from New York, has the ear of plenty of listeners as a regular contributor on the Today Show on NBC and yesterday she was interviewed there about which U.S. housing markets she feels are most likely to rebound.
She cites the four most important factors in making her determination as:
- Job Growth
- Growing Population
- Great Weather
- First Time Home Buyers
Even though since 2005, the Census Bureau strangely separates Raleigh-Cary from Durham-Chapel Hill, it should come as no surprise to those of us in what WE call the Triangle of North Carolina, that Ms. Corcoran has selected Raleigh, NC as the #2 city on her list! In fact I would argue that the same positive factors that Raleigh boasts can also be claimed by Durham-Chapel Hill! This is how I see the Durham/Chapel Hill area stacking up on her list of factors:
Job Growth -According to a recent article in the Triangle Business Journal, “Durham-Chapel Hill soared 24 spots, to No. 19, in the rankings of all U.S. metropolitan areas with at least 30,000 jobs.”
Growing Population - Raleigh was selected by Forbes Magazine as the #1 city to where Americans are relocating. 
According to 2008 population estimates, Raleigh, N.C. is #1, increasing 4.29% to 1.9 million folks. According to the U.S. Bureau of Census, the Durham – Chapel Hill Metropolitan Statistical Area shows a steady, consistent growth in population.
Great Weather – We have four seasons, a mild climate and are located 2 ½ hours from the beach and 2 ½ hours from the mountains! Something for everyone!
First Time Home Buyers – Ms. Corcoran explains that without first time homebuyers, there is no reliable move up market. I can talk about this from experience! I have made a career out of selling North Carolina residential real estate for 29 years. One of my favorite groups of buyers is the first timers. I work with lots of them and can vouch that they are indeed here! The median age in Orange County is 33. But in case you want more data…according toThe HH Report “the Income Level of Raleigh - Durham - Chapel Hill residents can be broken down into 8 categories: 21% are High Earners, 17% are Upper Middle Families, 13% are Lowest Income, 12% are Upper Middle Class, 12% are Young Professionals, 10% are Lower Income, 9% are Blue Collar, and 6% are Middle America.” Sounds like folks who buy homes to me!
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The only city above Raleigh on her list was Denver, CO and the three cities just below us were Austin, TX, Seattle, WA, and San Francisco, CA. How’s that for great company!
SarahGray Lamm is a licensed, full time, residential Broker in the Triangle of North Carolina. She specializes in serving the real estate needs of home owners and home buyers in Chapel Hill, Carrboro, SW Durham and Northern Chatham County. With over 60,000 hours of experience in North Carolina real estate, SarahGray is proudly associated with Allen Tate Realtors , the Carolinas largest independent real estate company, ranking #8 in the nation. With exceptional relationships all over the Carolinas, SarahGray is able to connect you with other professionals in all areas who will make your home buying or selling experience the best you have ever had!
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SarahGray Lamm is a licensed, full time, residential real estate professional in the Raleigh Durham area of North Carolina with over 60,000 hours of experience. She specializes in serving the real estate needs of home sellers, home buyers and investors in Chapel Hill, Carrboro, Durham and Northern Chatham County and is proudly associated with Allen Tate Realtors, the Carolinas #1 independent realty company.
Use of content from the AgentOutlier blog without the express permission of the owner is a violation of federal copyright laws.
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I saw that piece today, too! My first thought was -- why isn't she saying "The Triangle"? She cited universities as contributing to the upsurge: UNC, Duke, and NCSU. . . not all in Raleigh, hello. She cited large employers which are all located in Research Triangle Park -- almost completely in Durham. And your data supports all of the Triangle areas as a great pool for first time buyers. Chapel Hill and Durham residents are very sensitive to the snubbery. But, we all know the real deal! Thanks for this great post!!
Hi Dawn! Yes, that was my first thought but then I realized it has to do with the stupid MSA designation from the census bureau. Who in their right mind separates Durham and Chapel Hill from Raleigh and Cary? We are the Triangle, for crying out loud!
We're "The Triangle" if there's something good happening in Durham or Chapel Hill. But let something bad happen in Durham or Chapel Hill, Raleigh becomes just Raleigh again real quick! LOL!