• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Amy Shair Top eXP Realty Agent

Top Rated Real Estate Agent Cary, Raleigh, Durham

  • Home
  • About Amy
    • Client Testimonials
    • RE Designations
    • Meet the Team
    • Passion for Charity
    • Triangle Info & Awards
  • Buyers
    • Amy’s Listings & Tours
    • Active Adult Communities
    • Relocation Specialist
    • Neighborhood Info
    • Working with RE Agents
  • Sellers
    • Working with RE Agents
  • Blog
    • Amy’s Newsletter
  • Contact
  • HOME SEARCH
    • Raleigh
    • Durham
    • Apex
    • Cary
    • Chapel Hill
    • Hillsborough
    • Holly Springs
You are here: Home / Real Estate Market Trends / Real Estate Forecast 2020 – Raleigh/Durham Area

Real Estate Forecast 2020 – Raleigh/Durham Area

January 15, 2020

Real Estate Forecast

Raleigh/Durham Area Real Estate Forecast 2020 – As in recent years, the Triangle real estate market is expected to prosper in 2020. Local and national indicators show that 2020 will be a strong year in the Raleigh/ Durham/ Chapel Hill area. The local economy is expected to bring more jobs and continue our low unemployment rate. Rents are increasing for both apartments and private rental homes, so residents who can buy are motivated to do so to help keep within their monthly budget.

Location

Location is relative in the Triangle area. We have grown in all directions so smaller suburbs like Holly Springs and Knightdale are growing by leaps and bounds because that is where builders are able to find land to build new homes.

Buyers want to maintain a reasonable commute to work and/or the RDU airport. A 30-minute drive to work is the preference, but as traffic increases, buyers are choosing homes on smaller lots or older homes to keep reasonable drive times. Even with more buyers working from home full-time or a couple of days a week, they want to stay convenient to the gym, places of worship, and leisure such as golf, tennis or swimming.

Schools

Schools are also a big factor. Buyers with school-aged children are doing online research and telling their buyer’s agent which schools they want. Some current Triangle residents are selling and moving elsewhere within the Triangle to have their children attend a particular school (be it public, charter, or private).

Also, area residents attending grad school want to buy within a short commute to Triangle colleges and Universities. My clients have mentioned graduate programs at NC State, Duke, UNC-Chapel Hill, and Campbell Law School.

Appreciation

The National Association of Realtors (NAR) forecasts several areas that will have expected house appreciation higher than the rest of the U.S. The Raleigh/Durham/Chapel Hill area is on the list. The actual rate of appreciation varies throughout the area depending on price range and location.

Interest Rates

Predictions from NAR, Zillow, Redfin, and Realtor.com all indicate that mortgage interest rates are expected to remain around 4% or less throughout 2020. So, while home prices continue to increase, low-interest rates will help buyers with home purchases. Buyers should not expect to be able to get much help from sellers to pay their closing costs. Even new construction offers of paying closing costs are often built into a higher interest rate, so buyers are not necessarily getting the best deal if they need help to pay their closing costs.

New Construction

Like many areas, the Triangle is low on new home inventory relative to the number of buyers. As land and construction prices go up, much of the new construction properties under $350,000 are townhomes. New detached homes are being built throughout the Triangle, including eastern towns like Clayton, the southern town of Fuquay Varina, and to the west of Durham in Hillsborough. Most of the new construction is medium to larger subdivisions developed by regional and national builders. It is increasingly difficult to buy a lot and find a builder. The exception to this is a few neighborhoods without builder restrictions that were developed prior to 2008 – people purchased a lot for a future home but their plans changed, so now are selling individual lots.

Conclusion

Raleigh/Durham Area Real Estate Forecast 2020 – Remember that having a trusted real estate advisor is crucial to navigating a strong real estate market. Choosing carefully and knowing when you are making a good investment is what I help clients do on a daily basis. My clients know that I share my expertise from 20+ years in the Triangle real estate market to help them get the most benefit from selling and buying.

If you have any questions or would like to schedule a consultation to discuss your particular situation, feel free to contact me.

Filed Under: Real Estate Market Trends Tagged With: buying a home, real estate market, Real Estate Market 2020, Realtor, selling a home, Triangle Real Estate

About Amy Shair

Amy Shair is an Award-Winning REALTOR® and Real Estate expert serving Durham, Cary, and Raleigh North Carolina areas for over 25 years. Amy continues to stay current with online and real estate trends so that her clients are well-prepared for buying or selling their home. Call or Text Amy for your SHAIR of the market at 919-818-5001.

Primary Sidebar

Amy Shair eXp Realty

Amy Shair eXp Realty agent
  • (919) 818-5001
  • Contact Amy

 
Featured Listings

Recent Posts

  • Things to do in the Triangle this March
  • 5 Reasons to Work with a Buyer’s Agent on New Construction
  • A ‘Normal’ Real Estate Market – 2023
  • Winter 2022 Real Estate Market Update for the Triangle
  • Housing Gratitude 2022 Edition

Topics

  • Buying a Home
  • Home Maintenance
  • Local Events
  • Local News
  • Organizing Tips
  • Real Estate Market Trends
  • Selling a Home

Previous Articles

Top Agent Magazine Featured Agent Amy Shair - Nationwide & International Top Producing Agent

 

Footer

Contact Amy Shair

Amy Shair eXp Realty
201 Shannon Oaks Cir Ste:101-A
Cary, NC 27511

919-818-5001
https://amyshair.com

Amy Shair Real Estate Agent Cary North Carolina logo

eXp Realty Logo

Hours of Operation

Mon, Tues, & Thurs: 8:00 am – 5:00 pm
Wed & Friday: 9:00 am – 8:00 pm
Saturday: 9:00 am – 5:00 pm
Sunday: 12 pm – 5 pm
Or by appointment

Follow us on social media for exclusive real estate news and photos from our listings in Raleigh, Durham area

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube
  • Contact
  • Awards
  • Testimonials
  • Financing
  • Privacy Policy
  • Sitemap
  • Blog

Copyright © 2023 · Amy Shair eXp Realty Residential Real Estate Agent · Website by Current Marketing Services · Log in