The North Carolina real estate market is set to experience record highs in 2022, according to the Zillow.com rankings which have placed Raleigh and Charlotte among America’s hottest housing markets. Low inventory, combined with sky-high demand from a growing population as well as robust local economies, make this state an ideal market to invest in real estate.
This is not only good news for sellers but also a sign of a healthy overall economy in the state. Migration into the area, both from other states and internationally, has been a key driver of population growth and increased demand for housing. The state’s economy is also strong, with an unemployment rate that has remained below the national average for several years.
North Carolina is an attractive destination for businesses and people because it offers many benefits. The state is home to the largest banking center in the country as well as several prominent universities such as Duke University and Wake Forest University. North Carolina has experienced impressive growth rates since 2010, when more than 903 thousand residents moved there looking for lower costs of living, a milder climate, and other quality of life factors.
What’s also interesting about the state is that it’s not just the big cities that are seeing strong real estate markets. Smaller towns like Asheville and Wilmington are also experiencing healthy housing markets, thanks to the many tourists who visit these areas each year.
The North Carolina housing market is seeing a shortage of homes for sale and an increase in offers made above list prices. Redfin's data on zoned inventory shows that there are fewer available properties than last year, while Realtor’s numbers show 33% fewer listings overall since 2017 - which may be why more buyers have been able to purchase property at high asking prices this cycle. Here are 10 cities worth considering if you're looking into investing or buying your first house:
Charlotte is a city on the rise. From a new medical school campus and innovation district to affordable housing units being built or renovated, this centuries-old former capital of North Carolina has seen much activity in recent years. In addition, Charlotte serves as an economic center for metropolitan-area residents living in nearby Fayetteville and Raleigh, while also offering plenty within driving distance if you're looking for more than just your average commute length - including popular attractions like Birkhead National Forest (just outside of town) or the US National Whitewater Center.
As the state capital and one of America's fastest-growing cities, Raleigh is a great place to call home. The city offers a high quality of life with plenty of green space, a thriving arts and culture scene, and top-ranked schools. It's also a great place to do business, as Raleigh is home to a number of major corporations. And if you're looking for a place to retire, Raleigh was named one of the best cities for retirees by Forbes Magazine.
Winston-Salem is a city with a rich history and a bright future. The city is home to a number of Fortune 500 companies, as well as a thriving arts and culture scene. In recent years, Winston-Salem has also become a hub for startup companies and entrepreneurs. And with a low cost of living and a high quality of life, it's no wonder that Winston-Salem was named one of the best places to live in the United States by Money Magazine.
Greensboro is a city on the rise. In recent years, a number of major corporations have relocated to Greensboro, drawn by the city's low cost of living and high quality of life. The city is also home to a thriving arts and culture scene and top-ranked schools.
Durham is a city with a rich history and a bright future. The city is home to Duke University, as well as a number of other colleges and universities. Durham is also a major center for the arts, with a number of museums, theaters, and music venues.
Asheville is a city with a small-town feel and a big-city vibe. The city is home to a number of art galleries, boutique shops, and restaurants. Asheville is also a popular destination for outdoor enthusiasts, with a number of hiking trails and scenic views.
Wilmington is a coastal city with a small-town feel. The city is home to a number of art galleries, boutiques, and restaurants. Wilmington is also a popular destination for outdoor enthusiasts, with a number of parks and beaches in the area.
Fayetteville is a city on the rise. In recent years, the city has seen a number of major corporations relocate to Fayetteville, drawn by the city's low cost of living and high quality of life. The city is also home to a thriving arts and culture scene and top-ranked schools.
Greenville is a city with a small-town feel and a big-city vibe. The city is home to a number of art galleries, boutiques, and restaurants. Greenville is also a popular destination for outdoor enthusiasts, with a number of parks and trails in the area.
High Point is a city on the rise. In recent years, the city has seen a number of major corporations relocate to High Point, drawn by the city's low cost of living and high quality of life. The city is also home to a thriving arts and culture scene, and top-ranked schools.