06 Feb Mortgage News Review Around The Carolinas
More homes are being built now than this time last year, and home prices continue on the upward trend. Charlotte beats out Nashville, Atlanta and Charleston, to name a few, in U.S. News & World Report’s “Best Places to Live” analysis. Charlotte-area school districts receive high rankings, and strong home sales in Wilmington stretch capacity of many suburban schools. Here are a few stories we are watching:
Positive Outlook for New Home Market in Charlotte Area
A quarterly report from Metrostudy revealed that in the last three months of 2016, homebuilders began construction on about 18.6% more new homes than in the same period the year prior. As reported by the Charlotte Business Journal:
“That comes following what MetroStudy’s [sic] Jay Colvin describes as an ‘essentially flat market’ for most of 2016.”
Queen City Receives “Best Places to Live” Accolade
It’s official – Charlotte was ranked #15 as one of the top U.S. cities to live in by U.S. News & World Report. As noted in Charlotte Stories’ article:
“The report comments that, ‘Charlotte has become a place filled with new restaurants to try and events that attract people from all over. It’s a standalone destination city now, no longer living in the shadow of Atlanta or Charleston, South Carolina.’”
Factors compared include one’s quality of life, value, job market, desirability and new migration.
Home Prices Up in Charlotte-area
The Charlotte region continues to exceed the national rate of home-price gains. According to the S&P CoreLogic Case-Shiller Indices, local home prices in November increased 5.9% from the previous year. However, they were down slightly from the 6% in October and 6.2% in September.
Ranking of Charlotte-Area Public School Districts
According to Niche.com, Mooresville City Schools, Clover School District, Union County Schools, Fort Mill School District, and Cabarrus County Schools all received an A- or higher rank. Other local school districts included are: Kannapolis City Schools (B), Rock Hill Schools (B+) and Charlotte-Mecklenburg Schools (B+)
Great Home Sales Lead to Full Schools in Wilmington Area
With last year being the best for homes sales in the region since 2007, many suburban schools are being stretched. Also important to note is the growth isn’t even across the area – downtown schools, especially elementary schools, are under capacity while suburban schools are strained.
With so much activity in the Carolinas, isn’t it time that you partnered with the best? Our service and communication is top notch. At Fairway Independent Mortgage of the Carolinas, we treat your real estate customers like you do – with fairness and their best interests at heart. They are our priority, as is closing loans quickly with no surprises. Let us change the way that you think about mortgages.
Bellamy, Cammie. “Booming New Hanover population could test neighborhood schools.” Web Blog Post. Star News Online. 4 Feb 2017. Web 4 Feb 2017.
Jensen, Scott. “Charlotte Was Ranked One Of The Best Places To Live In America by US News & World Report.” Web Blog Post. Charlotte Stories. 27 Jan 2017. Web 27 Jan 2017.
Martin, Jenna. “Bright outlook for Charlotte area’s new-home market in 2017 — though one segment still lags.” Web Blog Post. Charlotte Business Journal. 30 Jan 2017. Web 30 Jan 2017.
Martin, Jenna. “Cost of living index: How Charlotte’s affordability compares to other U.S. markets.” Web Blog Post. Charlotte Business Journal. 2 Feb 2017. Web 2 Feb 2017.
Martin, Jenna. “This is how Charlotte-area school districts rank (List).” Web Blog Post. Charlotte Business Journal. 30 Jan 2017. Web 30 Jan 2017.