This North Carolina City Continues To Drop On List Of Real Estate Markets To Watch
Admittedly, real estate markets everywhere seem to be a bit chaotic these days. But, this North Carolina city continues to fall down the ranks on lists of real estate markets to watch. According to a report from WCNC, noted groups putting together lists of real estate markets to watch now put Charlotte at its lowest ranking in quite some time.
Now, to keep things in perspective, Charlotte still sits relatively high on the list at number 13. However, Charlotte continues to experience drops over recent years that see it fall from the top 10. These studies come from Urban Land Institute and Pricewaterhouse Coopers. They recently assembled to ‘Top 10 Real Estate Markets To Watch in 2024.’
And, according to their findings, Charlotte once at number 5 in 2020 and number 10 last year now falls to 13 for 2024. The numbers come together following thousands of interviews and surveys with industry experts. But, this doesn’t mean that folks suddenly abandon the idea of Charlotte as an attractive real estate market.
Plus, many factors influence these trends. Charlotte realtor David Hoffman told WCNC, “A lot of buyers already bought here, the cost of living is higher than it’s ever been in Charlotte.” He went on to point out the influence remote working has on decisions to move here. “But again, with the remote living, you can live anywhere.”
Personally, my family took advantage of the huge sellers’ market a couple of years ago and decided to sell our home. Of course, we weren’t one of the many making out like bandits. We made a modest profit. But, our decision to sell and relocate was born out of a need to relocate for our son’s schooling. It was a tough and scary decision, a sort of leap of faith. And, we are renters for the time being. Hopefully, one day if interest rates settle back down we can explore home ownership again.