Charlotte NC: The Healthiest Housing Markets for 2009 Charlotte 13th
February 19th, 2009 Categories: About Charlotte, Buy A Charlotte Home, Charlotte Homes for Sale, Lake Norman real estate, Union County, University City, mortgages, south charlotte
from Builder Magazine, about Charlotte NC. Things are tough here too, but we are buying and selling homes! It is of course a strong buyers market.
Builder, in conjunction with Hanley Wood Market Intelligence, debuts its metric for determining markets with the best and least potential.
by
Boyce Thompson
With most economists and builders expecting a national market decline this year, this may not seem like the best time to be selecting the “healthiest” markets in the country. Virtually every market was down last year. But a close look at the numbers reveals that some markets have way outperformed others during the last four years and are likely to continue to do so this year.
13. Charlotte, N.C.
2008 total building permits: 12,231
People and businesses must love Charlotte, because they are moving there at a high rate. The metro area of 1.74 million has grown its residents by 4 percent annually over the last five years, one of the highest rates in the country. They are drawn by relatively affordable housing for the east coast—median home prices are only $210,900, and they’ve only “corrected” downward by only 4.2 percent in the last year. A strong fourth quarter helped Charlotte record 12,231 permits last year, only a 44 percent decline since 2005. Charlotte’s strength relative to other markets led the investment banking firm UBS to predict last year that it would be one of the first markets to recover from the housing downturn. Charlotte is still a single-family market, with 62 percent of the residential activity in stand-alone homes. The job market in this banking hub contracted last year, after growing 3 to 5 percent annually the previous three years
When the housing market stages its official recovery, the markets listed on the following pages are likely to lead the parade. …The healthiest markets have many things in common. Most of them are great places to live… Most of them didn’t have a huge run-up in prices during the boom and aren’t experiencing rampant deflation during the bust.
To compile these lists, we analyzed the top 75 housing markets in the country. We ranked them based on population trends and job growth, perennial drivers of housing demand. We also examined what’s happened with home prices; many of the healthiest markets have managed to hold the line on home values. And finally, we considered the rate building permits, which may be the single best ongoing indicator of builder confidence in a market.
Builder Magazine,the full story
Most of the cities in the top ten are in Texas, and other similar markets that didn’t have th high run up in pricres found in Flordia, California, Nevada and Arizona. My 2009 Charlotte Real Estate Market forecast
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Moving to the Charlotte Area? South Charlotte, Waxhaw, Lake Norman, Fort Mill Perhaps? Your first Charlotte home?
I am a Charlotte real estate broker specializing in relocations, 2nd homes and first time home buyers–buying and selling
real estate of all kinds- and will represent only you. My team works with Buyers and Sellers every day from Ballantyne to Lake Norman -and Fort Mill SC too. We work with all relocation companies. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not, and where the deals are. I represented Buyers in the largest foreclosure sale in Charlotte in 2008. And I helped a handful of first time home buyers. I was the Top Agent in 2008 in our 800 + Agent firm, and won an award for customer satisfaction in 2008. We are flexible and at your service.
We are working to help you “buy smart” in Charlotte, and to make your relocation easier and less stressful.
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
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