Over the past several years buying or selling a home has become heavy burden for most Americans. Luckily, Raleigh is the exception. The real estate market throughout the entire area has continued to prosper.
Because so much weighs upon the state of the economy, Bloomberg and Zillow.com came together to find out which of the 50 housing markets in the U.S. have been the most unstable over the past 35 years. The result: Raleigh is in the clear. In fact, Raleigh was determined to be the 5th most stable market in the nation.
The team evaluated each market by looking at the average home prices over 117 rolling five-year periods, beginning with 1979. Within the study, the “risk of loss” was defined as the percentage of periods that produced negative returns for homeowners. If two markets came out as a tie, the market with the larger decline in their worst year was ranked as riskier.
The study analyzed how likely it would be for a buyer to experience a loss, given the buyer did not sell before 5 years had elapsed. Zillow.com also evaluated the most significant annual losses homeowners in these markets have experienced since 1979.
From July 1981 to July 1982, Raleigh saw its worst loss. Its average home prices went below 5 percent and risk of loss was 9 percent.
Hartford, Connecticut was the riskiest market with 36.8 percent risk of loss.
For assistance with all of your real estate needs, contact The Wilson Realty Group in Raleigh by phone: (919) 378-1974 or by email: Info@WilsonRealtyGroupNC.com