Raleigh includes everything from downtown apartments to suburbs. There's quite a spread. Apex is mostly suburbs, albeit the nicer suburbs where stores are a quick drive (5-10 minutes) away.
$700K is definitely at the upper range of new construction in Apex. That new house will also have a lot of upgrades. There's also a particular part of Apex (the parts that are basically Cary) where you'll see those prices. Move further south away from Cary and Raleigh and the prices in Apex drop very quickly.
I think where you'll also see the "We could afford Apex but not Raleigh" also has to do with the age of the home. ~$450K will get you a nice new home in Apex in a community with amenities (e.g. a pool, clubhouse, etc). In Raleigh you may end up in a smaller older home that needs a substantial amount of renovation.
There are 1000 other nuances of course, but hopefully you get the idea.
$700K is definitely at the upper range of new construction in Apex. That new house will also have a lot of upgrades. There's also a particular part of Apex (the parts that are basically Cary) where you'll see those prices. Move further south away from Cary and Raleigh and the prices in Apex drop very quickly.
I think where you'll also see the "We could afford Apex but not Raleigh" also has to do with the age of the home. ~$450K will get you a nice new home in Apex in a community with amenities (e.g. a pool, clubhouse, etc). In Raleigh you may end up in a smaller older home that needs a substantial amount of renovation.
There are 1000 other nuances of course, but hopefully you get the idea.