If the latest news about the US real estate market has got you down, maybe it’s time you took a look at the Charlotte, North Carolina new home market because it’s still going strong. In fact, while home prices have plummeted in other market areas that were so red hot in years past, the median home price in the Charlotte metropolitan area rose 6% in 2007 and is projected to do the same in 2008.
Also, compared to most other US metropolitan areas, a buyer gets much more for their money in a new home in Charlotte, North Carolina, which currently has a median price of $225,000. Unlike other market areas that have come to rely so heavily on their real estate and home construction markets, the business climate in Charlotte and its surrounding communities tends to be much more diversified.
This has worked to shield its overall economy from the fickle fluctuations that often come with the home-building business and land speculation. This, combined with an abundance of reasonably priced home sites, means you can now afford to own the large custom dream home or ranchette you’ve always planned to own.
The Charlotte, North Carolina new home market simply doesn’t go through the boom and bust cycles that many other markets tend to do and it is for this reason that you can count on the home you buy in the greater Charlotte area not will depreciate. in value as so many homes in the US have recently done. This lack of a boom cycle has also worked to keep the labor costs of the home building industry low, which in turn has directly reflected in the median cost of a new home in Charlotte, North Carolina.