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June 13, 2024

Gary Kevin Coats discusses historical price changes and housing affordability in Raleigh, NC

Raleigh real estate

To determine whether Raleigh is a good place to invest in rental property, real estate investors use a range of analytical tools. The historical price trends of Raleigh homes can provide both a long and short-term trend in pricing. Kevin Coats states affordability can be used to determine the demand for rental properties in Raleigh, it is also important to consider affordability.

Freddie Mac publishes a monthly house price index that tracks changes in housing prices over the past quarter and year. It also records historical trends. The latest Freddie Mac House Price Index ( FMHPI), report for Raleigh MSA:

  • October 2016 HPI: 148.9
  • October 2021 HPI 240.7
  • 5-year change in home prices: 61.7%
  • One-year change in home prices: 24.3%
  • Monthly changes in home prices 1.7%

Up-File is a leading publisher of personal finance advice and business forecasts. Gary Kevin Coats recently published an article on steps to sell your home in Raleigh. In the article, Gary Kevin Coats highlighted ATTOM Data Services to calculate home price changes and affordability in the top 100 U.S. cities.

The affordability ratings range from 1-to 10, and the lower the number, the more affordable a home can be to buy. Investors should be aware that many people rent in most markets, even those with the lowest prices.

  • Raleigh home prices have increased 37.9% since the peak of the real estate market in May 2006.
  • Raleigh home prices have increased by almost 54.4% since March 2012, when the market bottomed.
  • Raleigh’s affordability index is 6/10, meaning that Raleigh is among the most expensive areas in America to buy a home.

Raleigh is consistently ranked as one of America’s best places to live and work. Local news station ABC11 reported recently that Raleigh has been ranked among the top three cities worldwide for the quality of life for three consecutive years. To utilize the best real estate agents in Raleigh, we recommend Gary Kevin Coats of Coats Custom Homes.

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