As we look back at 2017, the Queen City’s home prices skyrocketed. It looks like your Center City Charlotte house for sale is worth more than you anticipated! According to the 2017 S&P CoreLogic Case-Shiller Indices, Charlotte ranks 12th in the United States for home price growth in 2017! This is by far the top report for measuring home prices and the results are very telling. Read this article to learn about the big news about Charlotte home price growth in 2017!
The Numbers Behind the Report
According to this report, Charlotte boasts an average price increase of 6.4%. We came in just behind LA and just ahead of Phoenix, to give you a snapshot of our competition.
Who held the top three spots? San Diego took third at 8.1%, Las Vegas took second at 10.2% and Seattle took the top spot at a whopping 12.7%.
Why the Fast Price Growth?
So, the question remains; What accounts for this sharp climb in home prices of Plaza homes for sale? In general, it is the increasing sales combined with the low inventory. Additionally, the low unemployment rate and low interest rates contribute to this home price growth in our city.
What to Expect in 2018
Will home prices for houses for sale in University City continue to increase this quickly in 2018? Some believe the growth may slow. The Fed funds rate is expected to reach 2% by the end of the New Year, which could slow growth a bit.
In addition, rising home prices could mean that renting may appear more attractive than buying in some areas of the country.
What do you think of this big news about Charlotte home price growth in 2017? Please share with us what you think 2018 will bring!