May 2012

Welcome to the Scot Williams Realty blog. May 2012
More Charlotte, NC fun facts. More math that points to a strong future for Charlotte housing, and argues that NOW is the right time to buy.
Charlotte, NC urban area was the fastest growing urban area over 1 million people in the US from 2000 to 2010. During that decade Charlotte grew 64.6% to 1,249,449 while the US urban population grew 12%. Charlotte’s urban area shouldn’t be confused with the often quoted Charlotte MSA (1.75 million in 2010 ) that includes portions of nine counties.
Charlotte historically had a reputation as a transportation hub. It now claims to be the second largest financial center in the nation, home to Bank of America Corporation as well as host to major operations of Ally Financial, Citi, JP Morgan and Wells Fargo. Charlotte is also growing as an energy hub, thanks to the growth of Duke Energy, the nation’s second largest utility, and a slew of engineering and design service operations lead by Areva, Fluor, The Shaw Group, and Siemens.
So…….Charlotte has a rapidly growing population base. A base that even during the “worst” of the recession from 2008 to 2010 grew at 25,000 per year; and a housing supply shrinking at 25 to 27%. These facts compel us to remind our potential buyer readers that when things do turn around they are likely to do so quickly bringing tighter inventory and higher prices.