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Charlotte’s Economy Booming According to PNC Economist

Charlotte’s Economy Booming According to PNC Economist
August 13, 2015 Cassee Cunningham

charlotte's economy realtor cassie cunninghamAccording to a recent article in the Charlotte Business Journal, PNC Financial Services Group Inc. economist Mekael Teshome says Charlotte’s economy is moving ahead “full throttle” and will continue to do so through 2016.

Per Teshome: “We have very strong demographics here — a young, growing, well-educated population — it’s a key reason why the Charlotte economy is expected to do fairly well.”

Key to getting Charlotte’s economy not only back on track but growing are gains in professional and financial services, as well as manufacturing, transportation and wholesaling. This is creating a mix of new jobs at both high- and low-end wage levels, but overall the average income in Charlotte is increasing, which is never a bad thing.

As far as the housing market is concerned, it is also coming back to a post-recession normalization. Demand for housing is being created by the new jobs – folks moving into Charlotte as well as moving up and around in the city. Low mortgage rates and easier access to credit make homebuying an option for more folks, too.

If this upswing in our economy has you in the market for a house, give me a call! We can explore some awesome Charlotte neighborhoods together and find you your dream home.