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Charlotte NC Ranks Well on Housing/Economic Recovery Lists

Charlotte NC Ranks Well on Housing/Economic Recovery Lists

Charlotte NC was the golden child of the Carolinas during the 1990s and the boom years after 2000.  Plentiful jobs, reasonable housing prices, low taxes and great weather lead to high growth and prosperity for the Queen City.  The economic slowdown came late to Charlotte but the financial meltdown in the fall of 2008 brought the national economic crisis home.Newsboy

Have the financial meltdown and the resulting Great Recession knocked Charlotte NC off its golden perch?  Perhaps not.  Forbes Magazine recently published three articles that ranked American cities in terms of their prospects for recovery and liveability.  Charlotte fares pretty well on each of these lists.

In December, Forbes looked at cities recovering fastest from the foreclosure crisis.  Charlotte NC ranked #27 out of 100 cities.  The study looked at the percent of loans that were 90+ days delinquent, the percent of loans in foreclosure, and the deterioration rate from October 2008 to October 2009 to create the rankings.  In Charlotte, 4.7% of loans were 90+ days delinquent and 1.8% of loans were in foreclosure.  According to the magazine, the metropolitan areas where housing prices did not become overheated will lead the way out of the foreclosure crisis. Source:  Cities Recovering from the Foreclosure Crisis. 

In November, Charlotte NC was ranked #56 on Forbes’ list of Best Bang for the Buck metropolitan areas.  The magazine created these rankings by looking at housing affordability, time travel, real estate taxes, unemployment, vacancies, jobs forecast, housing prices forecast, and foreclosures.  Charlotte scored best on real estate taxes (ranking #32), jobs forecast (ranking #18) and housing prices forecast (ranking #22).  The study concludes that areas with a stable housing market, low taxes, and reasonable commuting times are where people can get the best bang for their bucks.  Source:  Best Bank for the Buck Cities.

Another November Forbes article ranked Charlotte #54 among America’s fastest recovering cities. Unemployment, foreclosure rates, housing prices and average days on the market were used to create these rankings.  The magazine concludes that relatively stable housing and a diversified economy are helping cities like Charlotte NC recover faster than most metropolitan areas.  Source:  America’s Fastest Recovering Cities.

Learn more.  Request a free Charlotte NC Relocation Guide.

Copyright 2009.  Carol Fox.  Allen Tate Realtors.  *Charlotte NC Ranks Well on Housing/Economic Recovery Lists*

Posted: Monday, December 14, 2009 11:55 AM by Carol Fox

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