Charlotte Named Hottest Real Estate Market in 2023
Big news coming out this week, Zillow just ranked Charlotte as hottest real estate market for 2023, reinforcing what local experts have been saying about the economics driving our home prices. When it comes to home values and appreciation, every market will be different, but it’s important to understand what drives home values. It’s basic supply and demand. Demand comes in the form of people needing homes or population growth. Supply comes in the form of population moving out, seller sentiment, and new builds. The other important factor that plays a role in home values is income and employment. With the amount new jobs, companies, and money moving to Charlotte, it’s no wonder why real estate is still rolling. The bidding wars have cooled down but we’re still seeing strong momentum in home values. If you’re wondering if you should buy a home or wait, give us a call, run the numbers and compare it to your alternatives. If it doesn’t make sense, at least you know!