They say that real estate is a local market, and the moderate strength in the Durham MSA as per the latest (1Q 2007) numbers from the OFHEO certainly proves the point.

Durham’s growth rate is up 7.07% in Q1 (the rate is annualized), which is pretty good.

Take a look at Durham vs. Raleigh:

rdu.jpg

As you’d expect, they’re mostly moving in tandem. Now, let’s take a look at the bigger picture… and compare Durham to San Diego and Honolulu:

more-housing.jpg

That little blue squiggle on the bottom is Durham. While our local market isn’t going down rapidly like San Diego, it certainly didn’t go up as much back in 2004… But then again comparing Durham to San Diego and Hawaii is a bit of a stretch anyway…