GOING THE DISTANCE: WEEKLY UPDATE 11/22/24

This past weekend 9,600 runners descended on the streets of Charlotte for the 20th annual Charlotte Marathon (sponsored by Novant Health).  The race began at 7:20 a.m. in uptown Charlotte. Runners followed a winding course that took them through NoDa, Plaza Midwood, Myers Park, then back to the finish line in uptown beside Truist Field. The male winner Adam Jones had never run a marathon before finished with a time of 2:26:5, and female winner Jessica Barkley finished with a time of 3:01:41.  There were runners from all 50 states, 19 countries, and here are the three things you need to know this week. 

Risky Business:  For the first time since 2010 home prices in low climate risk areas are rising faster than homes in high climate risk areas.  

Over the past couple years we’ve seen and experienced some of the most devastating and historical weather/climate events.  .In that time home prices have increased across the board, but values in areas with low risks of extreme heat, flooding, or fire are now rising faster than those in higher-risk regions.  A 2023 Zillow study on climate risk, which found that more than 80% of the nearly 12,000 buyers surveyed said they consider climate risks such as flooding, wildfires, hurricanes and drought when shopping for a home.  One example; home values in places with low risk of extreme heat have increased 7% year over year while homes in high risk heat prone areas have increased 6.3% YOY.

Hammertime: National Association of Home Builders found that 31% of builders surveyed have reduced prices in November. 

On average, price reductions in November were 5%, while 60% of builders used sales incentives to close the deal. Builder confidence had bottomed-out in August of this year, but since then confidence has continued to increase (NAHB/Wells Fargo Housing Market Index rose 3 points in November) and is expected to stay on that trajectory into 2025.  One major reason, the construction industry expects the new administration to loosen regulations, which could boost sales. 

No Work No Problem: Charlotte,NC ranked 9 as “Best Places to Retire” according to latest U.S. News and World Report’s 2025 ranking.

This is a significant jump from last years score as the Queen City ranked 75th in this same category in 2023.  Factors included in the ranking include happiness, affordability, health care quality, retiree taxes, and desirability, and job market. “What we found this year is retirees seek a destination that will not only stretch their dollar, but is also a place for enjoyment. This is why the Midwest and South dominate the top 25.” According to Dawn Bradbury, assistant managing editor for real estate at U.S. News. The top five cities for 2025 are as follows: Naples, Florida; Virginia Beach, Virginia; New York City; Sarasota, Florida; and Boise, Idaho.

As we head into the week of Thanksgiving I hope you have a wonderful weekend and remember…We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble. 

Steve