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Southeast Real Estate Investment Market Report: June 2020

Keeping Employees Safe: How to Successfully Re-Open Your Job Sites

As states begin the slow, careful process of reopening, many of you might be wondering what your construction site will look like or what additional steps you can take to ensure your employees remain healthy. We’ve put together a list of ways you can help ensure your site is reopened safely.

Start by creating and posting a COVID-19 exposure control, mitigation, and recovery plan at each job site.

Next, designate a COVID-19 supervisor at every job site. They should be responsible for monitoring the health of employees and enforcing the job site safety plan.

Read more

Market Activity

Atlanta, GA
Market Overview

Zillow’s housing market research team predicts that the median home price in Atlanta could rise by more than 4 percent over the next 12 months. The city’s population has grown steadily over the past decade, far exceeding the national average, which has a lot to do with that positive forecast. From 2010 to 2018, Atlanta’s population has grew by nearly 17 percent. As of February, the area had a roughly 3.4-month supply of homes for sale. According to economists, a 5-or 6-month supply of homes is considered to be a “balanced” real estate market – one that favors neither the buyer nor the seller.

1,002
Homes Sold
$325,000
Avg. Home Price
$1,678
Median Rent
U.S Census Bureau: first quarter 2020
7.5%
Rental Vacancy Rate
1.1%
Homeowner Vacancy Rate
11.9%
State Unemployment Rate
Metro Area Unemployment
Albany, GA
11.3%
Athens-Clarke County, GA
11.3%
Atlanta-Sandy Springs-Roswell, GA
12.7%
Augusta-Richmond County, GA-SC
10.6%
Brunswick, GA
15.7%
Chattanooga, TN-GA
13.3%
Columbus, GA-AL
12.2%
Dalton, GA
20.5%
Gainesville, GA
10.6%
Hinesville, GA
9.6%
Macon-Bibb County, GA
10.7%
Rome, GA
13.5%
Savannah, GA
15.3%
Valdosta, GA
9.9%
Warner Robins, GA
10.2%

Market Activity

Charlotte, NC
Market Overview

Charlotte has a historically strong economy which explains why roughly 100 people move into the area per day. Future job growth for the region is predicted to be 45.5 percent, which is higher than the U.S. average of 33.5 percent.

1,096
Homes Sold
$277,000
Avg. Home Price
1,380
Median Rent
U.S Census Bureau: first quarter 2020
6.9%
Rental Vacancy Rate
1.4%
Homeowner Vacancy Rate
12.2%
State Unemployment Rate
Metro Area Unemployment
Asheville, NC
16.0%
Burlington, NC
12.7%
Charlotte-Concord-Gastonia, NC-SC
12.7%
Durham-Chapel Hill, NC
9.5%
Fayetteville, NC
14.6%
Goldsboro, NC
9.6%
Greensboro-High Point, NC
15.0%
Greenville, NC
9.5%
Hickory-Lenoir-Morganton, NC
17.6%
Jacksonville, NC
11.8%
Myrtle Beach-Conway, SC-NC
21.4%
New Bern, NC
10.1%
Raleigh, NC
11.0%
Rocky Mount, NC
12.6%
Virginia Beach-Norfolk, VA-NC
12.1%
Wilmington, NC
14.6%
Winston-Salem, NC
12.7%

Market Activity

Orlando, FL
Market Overview

According to the National Association of Home Builders/Wells Fargo Housing Market Index, builder confidence for newly-built single-family homes has increased from 21 points to 58 in June. The index has returned to positive territory as any reading above 50 indicates a positive market. In addition, with the nation reopening, this housing market seems to be well-positioned to lead the economy forward.

830
Homes Sold
$265,000
Avg. Home Price
$1,426
Median Rent
U.S Census Bureau: first quarter 2020
8.1%
Rental Vacancy Rate
1.4%
Homeowner Vacancy Rate
12.9%
State Unemployment Rate
Metro Area Unemployment
Cape Coral-Fort Myers, FL
14.6%
Crestview-Destin, FL
13.6%
Deltona-Daytona Beach, FL
14.7%
Gainesville, FL
8.9%
Homosassa Springs, FL
15.8%
Jacksonville, FL
11.2%
Lakeland-Winter Haven, FL
13.4%
Miami-Fort Lauderdale, FL
13.2%
Naples-Immokalee-Marco Island, FL
13.4%
North Port-Sarasota-Bradenton, FL
14.2%
Ocala, FL
12.1%
Orlando-Kissimmee-Sanford, FL
16.2%
Palm Bay-Melbourne-Titusville, FL
12.9%
Panama City, FL
12.6%
Pensacola-Ferry Pass-Brent, FL
12.0%
Port St. Lucie, FL
13.5%
Punta Gorda, FL
15.6%
Sebastian-Vero Beach, FL
14.1%
Sebring, FL
11.4%
Tallahassee, FL
8.1%
Tampa-Clearwater, FL
13.1%
The Villages, FL
12.3%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com.

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