Oct
23

Emerging Trends in Real Estate® 2013 on Charlotte

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The following is an excerpt from the Emerging Trends in Real Estate 2013 publication: 

“Going into secondary markets, but only with safe bets—Charlotte.” The interest in Charlotte’s investment, development, and homebuilding prospects posted significant improvement compared with 2012 results. Mostly understood as a big banking and financing town, this market has continued to expand, with a variety of businesses relocating to Charlotte for its high quality of life, low cost of business, and world-class international airport. Since 2011, 37 companies have moved to the area, creating more than 8,000 jobs. From the last peak through 2013, Charlotte is forecast to add nearly 30,000 jobs, making it one of the stronger secondary markets to watch. Businesses are not the only thing coming to Charlotte: net migration as a percentage of population is expected to be 1.5 percent in 2013, and forecasts show a 2.5 percent increase in households. Even with these growth numbers, some interviewees still have concerns: “Charlotte is subject to what banks do,” and “We see Charlotte as a risky metro in spite of a relatively strong economy, due to its dependence on two large banks.”

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