Raleigh's real estate and housing market are booming. It's currently listed as one of the top 20 emerging housing markets in the nation, and there are no signs of it slowing down. Looking at metrics such as economic vitality and quality of life, it is no surprise that Raleigh is starting to climb to the top of the list.
What’s New?
Raleigh is currently the fastest growing city in North Carolina, with a population growth rate that doubled the rest of the state. Due to the percentage of millennials and baby boomers rising, the job and housing market are extremely strong in the area.
Aside from the population growth within the city, the housing market is also getting even stronger. In 2021, Raleigh was ranked as the #1 market for housing construction, and it's currently ranked as the 4th best market for real estate investing.
Exciting Projects Transforming Raleigh
The Fenton mixed-use Development is an $850 million project that will include office space, retail, housing units, two hotels, and more. The first phase of the project will be expected to open in the spring of 2022.
North Carolina Freedom Park is expected to open in late 2022. The park aims to honor the African American community. The site will include quotes and motivation from individuals in the community, along with a powerful and influential sculpture. As these plans have been in talks for quite some time now, the city is excited to see this project finally become a reality.
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