Policy Essay: Reducing Policy Barriers to Housing Abundance
The Charlotte region is not building enough new housing. That reality helps explain why the people of greater Charlotte confront a growing affordability challenge. According to Canopy Realtor Association, the average sales price in the Charlotte region was $417,430 in January 2023, up nearly $150,000 from an average sales price of $268,271 in January 2019—a 56% increase. And a presentation by Mecklenburg County Tax Assessor Ken Joyner updating county commissioners on the most recent property tax revaluation showed that residential property values have increased most rapidly among homes at the more affordable end of the distribution.