Though it's been a nail-biting ride, the sentiment of homebuilders is looking up from the low it suffered over the last three years. According to the report issued by the Urban Land Institute, emerging trends indicate Charlotte has been gaining a strong lead on the national real estate trends, coming in at #9 for overall real estate prospects.
Nationwide, these top 3 cities will lead in homebuilding prospects:
Unlike the surrounding areas, Nashville's population growth is expected to continue this year. It seems to be maintaining a very good cost of living ratio, which has been attracting businesses to relocate there. Overall, this positive trend has put Nashville on the track to positive employment growth as well. That puts it in the top areas forecasted to have a strong market of buyers.
Tampa/St. Petersburg is projected to have an even stronger buyer's market than Nashville, even though it comes in at #2, nationally. They are experiencing a positive trend of institutional investments, which is also adding strength to the employment rates.
Continuing along the lines of Nashville and Tampa/St. Petersburg, Austin is also experiencing a profitable lift in business growth. The main difference, though, is it's not due to institutional investments. Instead, the entrepreneurial spirit is thriving due to the city's abundant flex space office spaces.
Charlotte Boasts a Spot in the Top 10 in Most Metrics
When it comes to homebuilding prospects, Charlotte came in strong at #8 nationally. Part of the trend fueling the growth in Charlotte is due to strong local employment rates that are well above the national average. And, it's only projected to keep growing throughout the year. Because of this, as we are coming to understand, we should prepare for those numbers to adjust a little in the coming months. As technology in the industry grows, it enables us to gather more and more data, which takes a bit of time to analyze. It is entirely possible – dare we say "probable"? – that Charlotte may find itself getting a nice little boost up the rankings in the coming months.
Forecasted Considerations for Targeted Home Staging
Realtors and home builders can gain some wisdom from the words of focus groups in the Charlotte area to help them understand the current local sentiment. According to the report, in their own words, Charlotte is:
Very attractive to the post-collegiate market.
Escalation of pricing but still a low-cost area.
Good schools provide plenty of local talent.
Good job growth.
Community leaders are pro-business.
Affordable and good quality of life.
Favorable occupancy costs for retail.
Overall, the outlook in 2019 is strong and we are in full-swing finding new and fresh styles to appeal to the changing tastes of your buyers. If you haven't done so already, now is the time to start planning your home staging strategy. We can help you navigate the steps to creating a warm and comfortably inviting space and make potential buyers feel immediately at home. Contact us today to discuss your goals and find out how we can surpass your expectations!