The Raleigh and Wake County area continue to provide a favorable environment for home buyers and real estate investors.  One recent indicator of the area’s economic vibrancy was released by the U.S. Bureau of Economic Analysis.  In a report released August 7, 2008 they reported that personal income in the Raleigh-Cary metropolitan statistical area (MSA) rose 8.7 percent since 2006.  Another Research Triangle Park (RTP) MSA, Durham, experienced an 8.4 percent growth rate, up from 7.7 percent in 2006.  Both of these rates of growth are greater than the national average. The U.S. Bureau of Economic Analysis reported that the national average for personal income grew 6.2 percent last year in the nation’s MSAs, down from a 6.8 percent rate in 2006.
Another indicator can be found in a report released by Bizjournals this August which ranks Cary, another Wake County town, as 20^th in a ranking of 261 America’s wealthiest cities. 
More people are moving to Wake County and RTP region which has had some impact on the job market.  The jobless rate for the eight-county Triangle region was 4.8 percent in June 2008.  That was the highest jobless rate since February 2004 for the region that includes Durham, Johnston, Orange and Wake counties. Nationwide, however, the rate was 5.5 percent and is expected to grow to 6 percent. 
So while Raleigh, the rest of Wake County and the RTP are facing some challenges due to the national economic downturn, we are faring better than in many parts of the country.  Contact me to if you are interested in a solid, long term real estate investment.