Raleigh, N.C. — Cary is among one of the best mid-sized cities to buy a home in the U.S., according to a new report released by WalletHub.
Researches considered many variables, from home values, economic environment and affordability.
Cary was ranked third-best on WalletHub’s list while Durham was ranked sixth.
Among large U.S. cities, Raleigh is the sixth best city to buy a home in.
The study classifies a large city as one with more than 300,000 residents and a midsize city with between 150,000 and 300,000 residents.
Real estate agent Ann-Cabell Baum with The Glenwood Agency said she’s seeing the market return to more normal patterns, but home values are holding up.
“The market is strong still, and for well-priced homes, we are seeing a lot of competition,” she said. “For [homes] that are overpriced, there have been price reductions we have seen based on that.”
Even though Raleigh’s real estate market is still booming, according to WalletHub’s study, there are still a large percentage of residents “seriously” behind on their mortgage payments.
Raleigh also has the 59th highest rate of home foreclosures in the U.S., according to WalletHub.
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