Charlotte Market Stats

what do these numbers mean?

"The housing market is expected to continue to cool in 2023 as the high monthly cost of a mortgage continues to dampen sales volume. Of course, this national slowdown will affect the nation’s 50 largest markets in different ways, and some markets appear more likely to navigate these choppy waters than others. Specifically, Zillow expects Charlotte to be the nation’s hottest housing market in 2023, with Cleveland, Pittsburgh, Dallas, and Nashville filling out the top five.

Zillow’s list of the hottest markets in 2023 is based on an analysis of forecast home value growth, recent housing market velocity and projected changes in the labor market, home construction activity and number of homeowner households.

Pushing Charlotte to the top of the list is its forecasted annual home price growth, and Cleveland’s second-place rank can be attributed to its high market velocity and job growth. While Pittsburgh is the only market in the top five with forecasted household declines, it makes up for the drop in owner-occupied homes with the fourth-highest ratio of jobs added per new home permitted."