Since 2012, Charlotte, North Carolina’s population has grown from 773,300 to 925,300. That’s a 19.7% increase.
After looking at those statistics, you might be wondering why Charlotte is such a popular city.
Here’s a few reasons why Charlotte is one of the fastest growing cities in the United States.
The large majority of Charlotte transplants are from New York, research shows.
One possible explanation for this pattern is that southern states have warmer summers and more temperate winters compared to New York.
New Englanders and Midwesterners come to Charlotte seeking a break from the brutal ice and snow that lasts for the better part of 6-7 months in the north. Why wait when you can trade sub-zero temperatures and snow shoveling for 40 degrees Fahrenheit and gentle rain?
New York City remains the largest financial hub in the United States, but Charlotte takes second place. Not only do financial centers drive economic growth, they also create plentiful job options. Moving to Charlotte means extensive employment opportunities in the finance industry and much more.
You don’t have to trade your favorite city activities for dullness when you relocate to Charlotte. The Queen City balances exciting recreation options with beautiful neighborhood developments and countryside. No matter your preferred landscape, Charlotte has something you’ll love.
What does the Queen City’s explosive growth mean for you as a home buyer or seller?
In 2021, home prices rose 17%, the highest on record in the US. Between the increase in home prices and the city’s growth, this means near instant equity when you invest in Charlotte real estate.
Lots of homeowners feel skeptical about buying and selling right now because the market is inflated and inventory is low.
The good news is, rising mortgage interest rates are likely to help quell inflation so the increase in home prices slows down.
Inventory is low, but as the global supply chain shortage improves and home builders recover from COVID-19 economic impacts, Charlotte will see further growth. Experts predict 50% growth by the year 2050.
Even in the current market, builders are constructing a lot of unique new developments. Whether you’re looking for an urban condominium or a single family home with a big, landscaped yard, you can find the home of your dreams in Charlotte.