Harvesting Southern Charm (Spring 2017)
In terms of housing, the southern U.S. is becoming one of the most affordable and valuable places to live. In fact, many states in the South are beginning to top the list of our nation’s fastest-growing cities. The housing market of Florida has significantly increased by 11% in the last year alone. Tennessee and Georgia aren’t far behind, having expanded by 6-9%.
What about other parts of the South? Kentucky, North Carolina, South Carolina and Alabama all grew anywhere between 3-6% this past year. Oklahoma, Louisiana, Mississippi, West Virginia, Virginia and Maryland presented a smaller rate of growth, around 0-3%, but their markets are still ones to watch.
Most southerners would agree that the region is quite charming to homebuyers, offering sweet tea, competitive sports, temperate weather and southern hospitality. What more do you need in life?
As experts keep a close eye on southern housing trends, as should any serious homebuyer or homeowner. Overall house prices across the country are appreciated above 6%, and interest rates are currently at their lowest point of 2017. It’s growing season, and also the opportune moment to take advantage of the South’s unique, appreciating market!
Get in touch with a NASB loan officer today – we’re happy to help you with your buying or refinancing needs.