Bringing The World Home To You

© 2021 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Business & Economy

More Institutional Investors Scoop Up Homes In Raleigh

downtown Raleigh skyline
NCDOTcommunications
/
Flickr, Creative Commons, https://flic.kr/p/bbmA6K

The Raleigh housing market continues at a white hot pace, driven partly by institutional investors. Real estate analysts with Attom Data Solutions crunched the numbers, and they noticed an interesting trend.
Attom's Darren Blomquist said outside investors have turned their eyes on Raleigh. These groups buy up homes with cash.

"Raleigh was one of the top markets in the country for cash buyers, with 57 percent of all sales in the second quarter going to all cash buyers," Blomquist said.

That influx of interest has driven up the housing market. Homebuyers in Raleigh are duking it out, and sellers are reaping the rewards.

The median sales price for the second quarter was $240,000, and sellers made an average $42,000 profit on their homes.

"Raleigh is one of 47 markets where in the second quarter we reached a new all-time high," Blomquist said.

Related Stories
More Stories