Charlotte NC One of Country's Healthiest Housing Markets
Charlotte NC One of Country’s Healthiest Housing Markets
Builder Magazine just released its list of the top 20 healthiest housing markets in the country for 2010. Charlotte NC ranked #3 on this list. Six other Carolinas housing markets were also in the top 20 list. The Raleigh-Cary market was just ahead of Charlotte at #2.
Builder Magazine created a Builder Market Health Index which used household formations, resale values and job and income growth to rank the top 100 housing markets (determined by number of permits pulled in 2009) by health. The magazine cautions that the top twenty markets are healthier than the others but still aren’t the same as during the housing boom. A truly healthy market score is a rating of 50 or more. Only the top two markets scored 50 or above. Charlotte’s score was 48.
Why did Charlotte NC rank so high on the healthy housing market list? Charlotte, like other cities in the Carolinas, benefits from a mild climate and comfortable way of life, affordable housing and growing employment prospects—things that newcomers from other parts of the country value and have always valued. Other factors in Charlotte’s ranking were the relatively stable housing prices over the last three years, income levels that rose in 2009, and a continuing high household formation rate relative to the rest of the country.
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Copyright 2010. Carol Fox. Allen Tate Realtors. *Charlotte NC One of Country’s Healthiest Housing Markets*