MINT HILL, NC – Everybody is wondering what is going to happen with the real estate market. If you read about the national market, it will read like a doom and gloom novel, but there are plenty of bright spots. When the national real estate market changes, it doesn’t mean every local market across the country follows it.
Charlotte, according to many experts, is a bit of a sweet spot and could very well be the hottest housing market in the United States. If you’re looking for homes for sale in Mint Hill, NC, you might not have to worry as much compared to seeking a home for sale in another market outside of Charlotte.
While the national real estate market is set to cool down throughout 2023, and some local markets will see major shifts, Charlotte is expected to have a rather prosperous year.
Why Will Charlotte be the Hottest Real Estate Market for 2023?
Charlotte boasts good economic fundamentals, plenty of potential home buyers, home value growth and inventory that is moving pretty fast. With more potential first-time buyers than any other market other than Austin, TX, Charlotte could end up in the top spot by the end of the year.
Home prices throughout Charlotte rose, on average, 17.5% through 2022, which signifies last year was rather hot for the market. During 2022, Charlotte ended up in the 5th spot on the list of hottest real estate markets in the country. This year, the market could take over the top position.
The biggest reason for the market to remain hot in Charlotte is the number of people that are on the verge of becoming homeowners in the area. Since Charlotte still has a strong job market, many are moving into the area and many people are primed to become first-time home buyers.
While many real estate markets across the United States, including Minneapolis, Denver, San Jose, and Sacramento, are expected to cool off quite a bit, Charlotte is expected to remain hot. Home prices are still booming and there are plenty of potential buyers, which could make for an excellent 2023.
I would love to be part of your journey when the time is right for you. If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. I will help you make the right move! Anna Granger (704) 650-5707 | firstname.lastname@example.org | www.1stchoicepropertiesinc.com