With all the depressing articles and outlooks surrounding the real estate industry these days, I decided to dedicate today's blog to a positive market outlook: North Carolina.

Despite cooling housing market conditions in most parts of the United States, North Carolina seems to be dodging the slump quite well. North Carolina's real estate is still continuing to appreciate despite foreclosures and huge inventories plaguing the rest of the country.

David Seiders, chief economist of the National Association of Home Builders tells the Charlotte Observer, "The housing market in North Carolina will continue to outpace the nation's." Seider also says, "The housing stats across the country this year should fall about 20 percent, but in North Carolina, the decline should be about half that."

A Charlotte, North Carolina based developer and vendor of real estate, Convergent Acquisitions & Development, Inc, also recently announce that home prices in the Charlotte area are still rising despite the market slump.

I must say, at first I thought this was just speculation, but North Carolina's market data concurs. According to the Carolina Multiple Listing Service, the average selling price of homes in the Charlotte area rose 9.3 percent this September as compared to the same time last year. The average selling home price for the seven county region including Mecklenburg, Iredell, Union, Gaston, Lincoln, Stanley and Cabarrus Counties was $236,061 in September 2007.

In 2005, you could have purchased a single family home in Charlotte, North Carolina for $168,000. Today, that same home will run you $220,000.

Furthermore, in 2007, The U.S. Department of Commerce ranks Charlotte number one in its affordability index for cities with population between 400,000 - 1 million.

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