North Carolina Housing Market Vitality

Market Rank


North Carolina metro area house prices are forecasted to underperform the national market over the next twelve months. Currently, the market is tracking the overall U.S. market. Compared to 12-months ago, North Carolina’s housing market has strengthened. Current local economic conditions support an estimated 15.5% increase in house prices over the next twelve months. Based on the housing market vitality of the seventeen metro housing markets which comprise it, North Carolina’s housing market ranks eighteenth amongst all states and D.C. The three-month outlook is negative.

Housing Market Vitality

Housing Market Vitality summarizes the impact of economic conditions on house prices. A value of 100 corresponds to conditions supporting current price appreciation; values less than 100 correspond to a dampening effect and values greater than 100 indicate a positive impact on house prices. A housing market vitality value can be interpreted as a growth rate. Hence, a reading of 105.8 can be interpreted as a 5.8% annualized increase in house prices.

North Carolina Metro Housing Markets

North Carolina is comprised of seventeen metro housing markets that account for nearly 78% of the state’s population. The Tar Heel State metro housing markets are unique in their demographics and local economies and exhibit trends that are distinct from the national and state narrative. Each metro market presents its own unique opportunity.

Asheville, NC Underperforming Negative212
Burlington, NC Underperforming Negative233
Charlotte-Concord-Gastonia, NC-SC Outperforming Neutral64
Durham-Chapel Hill, NC Underperforming Negative208
Fayetteville, NC Outperforming Negative135
Goldsboro, NC Underperforming Negative346
Greensboro-High Point, NC Underperforming Negative190
Greenville, NC Underperforming Negative261
Hickory-Lenoir-Morganton, NC Outperforming Negative119
Jacksonville, NC Underperforming Negative278
Myrtle Beach-Conway-North Myrtle Beach, SC-NC Tracking Negative134
New Bern, NC Outperforming Negative56
Raleigh, NC Underperforming Neutral147
Rocky Mount, NC Underperforming Negative296
Virginia Beach-Norfolk-Newport News, VA-NC Underperforming Negative206
Wilmington, NC Tracking Negative151
Winston-Salem, NC Outperforming Negative104

Industry Specialization

North Carolina’s state economy is specialized in Manufacturing, Construction, and Other svcs. Mining, Edu Health svcs, and Information industry sectors are less important to the state economy compared to the national economy.

Industry specialization helps explain the differing impact of industry trends on local economies in contrast to industry composition which describes the structure of the economy. A Specialization Index value greater than 100 corresponds to the sector having a greater share of the state economy than it does of the national economy. Sectors with a Specialization Index greater than 120 characterize the local economy.


Compared to the U.S., there is a higher incidence of poverty amongst North Carolina residents and they have greater purchasing power. There are more high school graduates and a larger proportion of the population is college educated. North Carolina’s population is comparatively more diverse than the overall U.S. population.

A Demographics Index value greater than 100 corresponds to the factor being more intense in the state versus the national average. Characteristics of the local population is a longer-term factor that influences the housing market.

Updated September 08, 2021 with data through July 2021