List: Charlotte among top 5 hottest housing markets in the U.S.

CHARLOTTE, N.C. (WBTV) - The Charlotte metro area is one of the top five hottest housing markets in the country

In fact, according to Bankrate’s new Housing Heat Index, all of them are here in the southeast. The area that makes up Charlotte, Gastonia and Concord is the only major metropolitan area to crack the top five.

The survey found Charlotte area homes ranked high in appreciation, population growth and how many days homes sat on the market before they sold.

According to Bankrate, the only low score Charlotte got was for the number of active listings, which was lower compared to other markets.

Bankrate also looked at home values, employment levels and job growth.

So, what’s contributing to this shift? Bankrate says the biggest factor is affordability, with home prices below the national median and lower taxes.

A check of the National Association of Realtors found homes in the Queen City are selling at a median price of just over $395,000. That compares to just under $389,000 nationwide.

These are the five hottest housing markets, according to Bankrate:

• Gainesville, Ga.
• Knoxville, Tenn.
• Cape Coral-Fort Myers, Fla.
• North Port-Sarasota-Bradenton, Fla.
• Charlotte, N.C.

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