NORTH CAROLINA -- When the next recession hits, the Raleigh area has a low risk of a housing downturn, while Charlotte has a much higher risk, according to a report from Redfin.
- Raleigh is ranked fifth with a 35.2 percent rating
- Charlotte is ranked 39th with a 57.4 percent rating
- Rochester, New York, was number 1
Raleigh ranked fifth in the top 50 housing markets with the lowest risk of a housing downturn with a 35.2 percent rating. Charlotte was 39th at 57.4 percent.
The report considered many factors, including median home sale, price-to-household income ratio, average loan-to-value ratio, home price volatility, share of home sale flips, diversity of local employment, share of local economy dependent on exports, and share of households headed by someone 65 or older.
How Raleigh fared:
- Sale price-to-income ratio: 4.2
- Average Loan-to-Value: 68.3%
- Home price volatility: 12.1%
- Flips share of sales: 4.1%
- Employment diversity: 7.3%
- Exports share of GDP: 3.4%
- Share of households 65+: 17.6%
How Charlotte fared:
- Sale price-to-income ratio: 4.4
- Average Loan-to-Value: 69.6%
- Home price volatility: 14.2%
- Flips share of sales: 4.4%
- Employment diversity: 7.6%
- Exports share of GDP: 7.5%
- Share of households 65+: 20.7%
Rochester, New York was rated number 1, while Buffalo, New York, and Hartford, Connecticut were second and third, respectively. Riverside, California, Phoenix, and Miami were at the bottom of the list.
To view the full list, please visit Redfin's blog.