Charlotte Will Be the Hottest Housing Market in 2023
We always hear people that are natives of Charlotte saying how many people move from up north to down here. Every year Zillow makes annual predictions for the hottest housing markets of the year. Some determining factors in what makes up the hottest market include a wide range of things. Some factors are expected home value growth, the projected change in owner-occupied households, and job growth compared to new construction.
- 2023’s hottest markets boast strong forecasted home value growth, solid economic fundamentals, relatively fast-moving inventory, and plentiful likely buyers.
- The Midwest entered Zillow’s list of hottest housing markets as a rival to the previously dominant Sun Belt. Charlotte, Cleveland, and Pittsburgh top this year’s list.
- Last year’s hottest market, Tampafell out of the top 10 this year.
- San Jose, Sacramento, Minneapolis, and Denver may be the coolest large housing markets in 2023.
Zillow expects Charlotte to be the nation’s hottest housing market in 2023. The list is based on a few research methods. Things such as home value growth, recent market velocity, projected changes in the labor market, home construction activity, and the number of homeowner households.
What made Charlotte top the list is its projected annual home price growth. How about that? Looks like some good things are coming for the housing market right here in Charlotte.
