The long term health of a real estate market is impacted by several factors. Previously, I discussed the importance of supply and demand. Another factor that plays an equally important role is quality of life. Unlike supply and demand, quality of life is not objective. What does it really mean? How would you measure it? How could it be impacted positively or negatively?
A recent survey from Portfolio answered all of these questions by comparing the performance of the country’s 67 largest metro areas in 20 statistical categories. The highest scores went to well-rounded markets with healthy economies, moderate costs of living, light traffic, impressive housing stocks, and high powered education systems. And…drum roll please….
Raleigh, NC ranks #1 and Charlotte, NC ranks #16. Our only 2 qualifying metros and they are both in the top 20.
What can I say…I’m a new homes guy. I grew up in the business and have been involved with new construction for 33 years, so I guess I’m partial to “brand spanking new homes”. Re-sales and new homes have always battled each other. Now there are two more competitors that have entered the ring and are getting much attention. They are short sales and foreclosures.
On May 12, I was fortunate to attend the opening ceremonies of the 
“How is the market doing?” If I had a dime for every time someone asked me that … Over the past 24 months that seems to be the question on everyone’s mind. I am happy to report that the market is recovering.
During the recent commencement ceremonies held at Queens University in Charlotte, NC, our founder and chairman, Mr. Allen Tate, was honored with a Doctor of Humane Letters degree. Mr. Tate is the epitome of a Carolina man and the honorary degree reflects his five decades of business leadership and civic engagement across the region.