Real estate data show how Triangle compares to nationwide trends
Home price increases are beginning to slow across the Triangle, matching nationwide trends.
The latest data from real estate data firm CoreLogic shows that price gains are down from a year ago for Raleigh and the Durham-Chapel Hill metro area.
In December, the 12-month housing price index for Durham and Chapel Hill was up 5.6 percent. A year ago, that rate was 5.9 percent. In Raleigh, the rate dropped to 4.7 percent, from 5.2 percent.
While prices continue to rise in the region, the rate of growth is slowing, also in line with nationwide trends.
CoreLogic forecasts that home prices will continue to grow throughout 2019, but the rate of growth will likely continue to taper. CoreLogic economists attribute the slowdown to factors that are affecting markets across the country.
“Higher mortgage rates slowed home sales and price growth during the second half of 2018,” CoreLogic Chief Economist Frank Nothaft stated. “Annual price growth peaked in March and averaged 6.4 percent during the first six months of the year. In the second half of 2018, growth moderated to 5.2 percent. For 2019, we are forecasting an average annual price growth of 3.4 percent.” Courtesy of the Triangle Business Journal