PriceWaterhouseCoopers (PWC) has released its 2017 Emerging Trends in Real Estate Report for 2017 for the United States/Canada and it reveals a very telling story for Charleston and its housing markets.
The report defines the future of Charleston, SC real estate, saying:
“Charleston, South Carolina, could be considered an emerging 18-hour city with an economy that is firing on all cylinders going into 2017. Strong demographic growth, the expansion of manufacturing facilities, improved transportation and logistics access, and a growing tech services industry are all driving the Charleston economy. Population and household growth is projected to be strong in 2017. In addition, Charleston is becoming a preferred destination for college graduates between the ages of 25 to 34. The younger well-educated workforce is facilitating the growth of Charleston’s expanding tech base. High-tech employment is projected to expand at a faster pace than the national average in 2017. On the manufacturing front, one automaker is starting a major expansion while another is opening a new production facility. Auto production activity could lead to an influx of new parts suppliers locating in the region. Finally, the Port of Charleston should benefit from the Panama Canal expansion. Planned capital expenditures at the port will improve the competitiveness of the operation and further establish Charleston’s reputation as a logistics hub.”
State of Charleston, SC Real Estate
This report indicates that there is an increased demand for investment in Charleston real estate and the potential for a huge upside in 2017. For overall real estate prospects in 2017, Charleston, SC is ranked #31 in the nation. Charleston is ranked #2 behind Raleigh, NC home building prospects in 2017. Investor demand, which is an indicator of the interest investors have in the future prospects of development in a region has Charleston #14.
Charleston Buy, Sell, Hold Recommendations
The full report contains an in-depth analysis on pricing, population and other key census indicators.