This Suburb Named NC’s Healthiest Housing Market
If you’re looking for the healthiest housing market in all of North Carolina, you need only look as far as one Charlotte suburb. Personal finance website SmartAsset analyzed four key indicators of a healthy housing market. They then compiled this information and released each state’s strongest housing market. In North Carolina, you’ll find that in the southeastern suburb of Matthews.
As previously mentioned, SmartAsset looked at four factors. Those areas of interest are: account stability, ease of sale, risk, and affordability. Each category holds a different weight, with affordability being the biggest factor. Affordability accounts for 40% of the ranking, while each remaining factor holds 20%.
According to SmartAsset, “A healthy housing market is both stable and affordable. Homeowners in a healthy market should be able to easily sell their homes, with a low risk of losing money over the long run.”
Local and National Rankings
Not only was Matthews named the top market in North Carolina, it was also ranked No. 19 nationally. The study yielded these statistics about the Charlotte suburb:
- Average years living in home: 13.6%
- Average homes with negative equity: 6.3%
- Homes decreasing in value: 4.7%
- Average days on market: 44.9
- Home costs as percentage of income: 18.7%
- Healthiest markets index: 92.66
Other parts of the Queen City metro also made the top-10. Kannapolis came in No. 4, Stallings No. 8, Mint Hill is ninth, and Charlotte proper rounded out the top 10.