Based on everything I'm seeing in the market, with the exception of credit tightening and rising interest rates, leans towards a positive finish through 2007 in the Apex real estate market.

In addition the area has received numerous praises recently throughout the press.
August 2007- Apex named the #14 Best Place to Live
2007: Raleigh rated #1 Sellers Market in the Country
2007: Raleigh-Cary MSA was rated #15 in appreciation in the country by a leading housing authority.
2007: Forbes Magazine named the Triangle Region the #1 region for Job Growth--It doesn't get any better than that.

Q22007 Summary
-The average DOM in Apex is 59 days.
-Homes priced under $300,000 have less than a 2 month supply of inventory.
-Appreciation rates in the Apex area are superior to the average rate for housing located in Wake County.
-The top selling development in Apex is Scotts Mill with 134 closings in the past 12months.
-The top appreciating development in Apex is Hollands Crossing at 6.25%.
- The average price resale home in this area is $245,000 and the average price new home in this area is $338,000.

There are several new construction projects underway in the downtown area that will change the face of Apex including:

1. Trackside

2. Trinity

3. Villages of Apex

4. Old Mill which is already underway

Just this month we've seen an increase in overall inventory due to the fact that kids are back in school. We should see a cooling of the market and less pressure on price points. The biggest challenges through the end of the year:

1. Families relocating to this area are having a tough time selling their homes prior to relocating.
2. Tighter lending restrictioins due to the collapse of the sub-prime lenders.
3. Recent trend towards higher interest rates.