The first annual Summit on the State of Housing in Charlotte on Feb 21, 2019. The event addressed the analysis of the “State of Housing in Charlotte” report, including a comprehensive inventory of the current housing stock, an analysis of housing affordability across all income levels and a higher-level comparison of the Charlotte regional housing market. The presentation was followed by two panel discussions.
The key takeaway in the report: The Charlotte region has a population that is growing faster than its housing stock. As a result, prices are rising for all housing faster than inflation. This increase in prices is affecting both owner-occupied and rental properties.
“When housing prices rise, wealthier households that cannot find housing at a price point appropriate for their income level can “buy down” into less expensive housing and renovate. Lower-income households do not have an equivalent option. The lack of “starter home” priced properties is reducing the ability of people to transition from renting to ownership as quickly as they could in previous generations,” Buttimer said.
To read more about the program and watch the presentation view, click here.
To view the full report, click here.