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.