Charlotte Was Ranked As Having The 12th Fastest Home Price Growth in 2017

1196

S&P Dow Jones just released the results of the results for the 2017 S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices.

According to the report, Charlotte ranked 12th in the nation for home price growth in 2017, with an average price increase of 6.4% across our city. We came in just behind LA (6.5% increase) and just ahead of Phoenix (6%).

Seattle saw the highest growth with a 12.7% increase last year, and Las Vegas came in second at 10.2%.

According to the report, these were the top 20 cities for home price growth in 2017;

#20 Washington DC – 3.1% increase
#19 Chicago – 4.1% increase
#18 Miami – 4.4% increase
#17 Cleveland – 4.7% increase
#16 Atlanta – 5% increase
#15 Minneapolis – 5.4% increase
#14 NYC – 5.9% increase
#13 Phoenix – 6% increase
#12 Charlotte – 6.4% increase
#11 LA – 6.5% increase
#10 Tampa – 6.9% increase
#9 Boston – 6.9% increase
#8 Portland – 7.1% increase
#7 Detroit – 7.1% increase
#6 Dallas – 7.1% increase
#5 Denver – 7.2% increase
#4 San Francisco – 7.7% increase
#3 San Diego – 8.1% increase
#2 Las Vegas – 10.2% increase
#1 Seattle – 12.7% increase

“Home prices continue their climb supported by low inventories and increasing sales,” says David M. Blitzer, Managing Director & Chairman of the Index Committee at S&P Dow Jones Indices. “Underlying the rising prices for both new and existing homes are low interest rates, low unemployment and continuing economic growth. Some of these favorable factors may shift in 2018. The Fed is widely expected to raise the Fed funds rate three more times to reach 2% by the end of the New Year. Since home prices are rising faster than wages, salaries, and inflation, some areas could see potential home buyers compelled to look at renting. Data published by the Urban Institute suggests that in some West coast cities with rapidly rising home prices, renting is more attractive than buying.”

How fast do you think Charlotte’s home prices will grow in 2018? 

Comments

comments

SHARE
Focused on telling the world how awesome Charlotte is.