Charlotte, NC. Ranked 16th For Housing Markets Heading Into 2014

Charlotte, NC. has always been a great destination among people looking to move to the area. Charlotte offers a well-diversified economic pool of jobs, great weather and affordable housing. Recent studies done by Price waterhouse and Moody's add credibility to those claims. According to price waterhouse Charlotte, NC. Is ranked as the 16th best housing market heading into 2014. This bodes well for investors and home sellers as well as home buyers. Construction is on the upswing and the economy is improving with an unemployment rate that is decreasing every month as the population continues to grow. The statistics say that new permits (what builders pull for new construction to build a house) are expected to rise by over 30% in 2014. That means that builders are getting a lot higher demand for their homes and just do not build homes to have them sit in inventory. But the contrary; they build as they sell them. This means more people are building homes and the growth is expected to carry into 2014. Part of it is because of the lack of inventory out there for homes. Charlotte, NC. has seen a dramatic decrease in available inventory out there for homes and the choices are getting slimmer every day. If those people do not put homes on the market the buyers are left with looking at new construction as an alternative to a resale house.... This is coupled with the fact that because of the large growth in the service sector, healthcare, and being the second largest banking center in the United States our growth in terms of population has exceeded expectations while unemployment has gone down. Meaning more people are moving into the Charlotte area; but we are creating more jobs at a faster pace than the growth of the city. Both great indicators of an economy improving. Also, based on demographics Charlotte area has the second highest projected growth in the population of people age 20-34 over the next five years at over 15%. This is great news for the housing market as people need places to live. And as rent prices increase because of demand it makes buying a more affordable option for most people. Moody's projects Charlotte housing market to improve because of the relatively high foreclosure inventory has declined rapidly, alleviating the downward spiral on housing prices. Despite concern that rising interest rate would potentially slow the housing market, interest rates are still low by historical standards. But most importantly, according to Moody's, is the expansion of the population growth coupled with business expansion increasing demand for housing in the Charlotte, NC market for the long term. Over the past 5 years Charlotte, NC. population growth was the 13th fastest in the country while unemployment remained steady or decreased over the same period. Based on these two reputable third party endorsements it appears the housing market in Charlotte, NC. is seeing an upswing and that the upswing will continue into much of 2014 and beyond. Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com