Finding an affordable home in the Charlotte region is becoming harder for people with low to moderate incomes, UNC Charlotte researchers said Thursday.
They spoke at the university’s Childress Klein Center for Real Estate at its annual State of Housing in Charlotte Summit. They cited rising prices in a market where supply is falling behind demand.
In September, a family income of $152,000 was needed to purchase a median-priced home, with the cost of that home jumping from $376,000 last January to to $415,000. The $39,000 difference is a 10% increase.
Yongqiang Chu, the center’s director and co-author of the report, said the region has continued to grow rapidly after the COVID pandemic. That increase in demand for housing, combined with the disruption of supply because of the pandemic, is creating continued pressure in the market. Housing prices are also shifting, Chu reported.
Read more of this story at The Charlotte Observer
