In case you missed it, Builder magazine announced their 2011 list of Housing Market Health Index with our very own Raleigh/Cary market at number one!

Here is their blurb:

Raleigh-Cary, North Carolina:

Market Health Indicator: 86.9

2011 Building Permit Forecast: 9,604

Percent Change in Building Permits: 90%

Raleigh builders sense that their market may be in for something big–building permits increased 85% last year to 8,600, with much of the strength on the multifamily side. But single-family permits increased as well as builders took stock of improving market conditions.

The market was hot enough that existing home prices rose 4% in 2010, though they are expected to fall 10% this year due to a spreading foreclosure problem. But excess inventory may be absorbed quickly, because households are still moving in large numbers to Raleigh, drawn by its temperate climate and good employment prospects.

Raleigh continued to add jobs last year, especially in services, lowering its unemployment rate to 8.4%. This is an affordable place to live, and it recently ranked among the best places to retire.”


We’re proud of our hometown market as we at Garuda Custom Decks are excited about our future in the Raleigh-Cary building industry!