Charlotte Commercial Real Estate Whispers — Nov. 27, 2024

An in-depth study of Charlotte's housing market; Data center sales puzzle real estate pros; Apartment developer builds while others pause; Land sales; Northwood CEO is anti-jammies

It’s time to indulge in the latest irresistible edition of Charlotte Commercial Real Estate Whispers, where the city’s most tantalizing land deals, rezonings and developments are seductively unwrapped. Prepare to be captivated by the pulse-racing drama of Charlotte’s real estate world, where every transaction whispers temptation and every revelation feels like a delicious affair you can’t resist.

Unpacking last week’s report on the Charlotte housing market

You’ve probably heard by now that it is becoming harder to afford houses and apartments in the Charlotte area.

A new report by UNC Charlotte’s Childress Klein Center for Real Estate sheds some light on the particulars of the problem and nuances of changes in the Charlotte housing and apartment markets.

Your humble Whispers correspondent read the 66-page report. We attended its unveiling last week at UNC Charlotte’s uptown campus. We listened to its primary author, UNC Charlotte professor Yongqiang Chu, discuss the results.

The main takeaway is that Charlotte continues to face high demand for housing and relatively lower supply of housing, which is driving prices up — and in many cases out of reach.

Here are 4 of the trends in the data that we found interesting:

1. Charlotte is losing its edge on affordability.

We know that living in Charlotte is getting more expensive. And we know that other places are getting more expensive, too. What’s less appreciated is how in recent years Charlotte has been losing its advantage compared with its peers on the affordability of housing, which has long been part of the city’s growth narrative.