RD Amanda Hoyle Speaks to Raleigh Chamber of Commerce Young Professional’s Network
Regional Director for the Raleigh-Durham market, Amanda Hoyle, spoke recently during the March Meeting of the Young Professionals Network. Keep reading for an excerpt from the YPN Recap of the event:
Hoyle spoke at our March meeting of the Young Professionals Network at PNC Arena. The topic was tracking Triangle trends in residential real estate for 2019 and beyond.
“It’s going to remain a seller’s market for the foreseeable future,” said Hoyle. “We’re going to see bidding wars.”
She talked about why the Triangle market has been so hot, mentioning recent high-profile jobs announcements from companies including Pendo, Advance Auto Parts, and Arch Capital.
Hoyle also discussed how Forbes ranked North Carolina the No. 1 State for Doing Business.
“More millennials are choosing to go the route of buying and remodeling, rather than buying new,” said Hoyle.
She talked about how home sale prices have been increasing, as has the price of land.
“That’s making land more competitive for builders,” she said.
For those who rent, Hoyle mentioned how apartments and multi-family units are still in high demand.
“The Triangle added 21,000 new apartment units in the last five years,” she said.
Her forecast was for slower, but steady, growth in 2019 and beyond.
Hoyle then opened up a moderated discussion with three other experts, each representing a different aspect of the residential real estate business.
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