The following chart shows the percentage gains (or declines) for home values over a 1, 3 and 12 month period in the Carolinas.
The last column shows the percentage of the median income it takes to make a home payment (principle, interest, taxes and insurance) in that city. It assumes a 5% down payment and 30-year mortgage rates at 6.5%, which is where they were as of this morning.
Historically, borrowers were considered safe if less than 28% of their monthly payment was going to toward the mortgage payment. As of this month, every single city is above 28% with most significantly above, and that is coming off a massive decline in mortgage rates over the last 60 days (they were above 8% at the end of October).
| City | State | Monthly | 3 Month | Annual | % |
| Anderson | SC | 0.07% | -0.06% | 9.50% | 42% |
| Graham | NC | 0.47% | 1.97% | 8.70% | 48% |
| Fayetteville | NC | 0.40% | 1.47% | 8.10% | 38% |
| Jacksonville | NC | 0.58% | 1.66% | 7.90% | 42% |
| New Bern | NC | 0.38% | 1.12% | 7.80% | 42% |
| Tarboro | NC | 1.03% | 2.36% | 7.70% | 29% |
| Charleston | SC | 0.84% | 3.50% | 7.30% | 60% |
| Goldsboro | NC | 0.28% | 0.82% | 7.20% | 40% |
| Oxford | NC | 0.43% | 1.34% | 7.00% | 41% |
| Aberdeen | NC | 0.46% | 1.05% | 6.90% | 38% |
| Sanford | NC | 0.26% | 1.22% | 6.60% | 45% |
| Shelby | NC | -0.83% | -1.62% | 6.60% | 38% |
| Asheboro | NC | 0.51% | 2.38% | 6.40% | 45% |
| Butner | NC | 0.22% | 0.68% | 6.30% | 32% |
| Greenville | NC | 0.28% | 1.31% | 6.20% | 38% |
| Henderson | NC | 0.79% | 1.34% | 6.20% | 34% |
| Lexington | NC | 0.55% | 2.43% | 6.20% | 51% |
| North Charleston | SC | 0.59% | 2.16% | 6.20% | 42% |
| Wilmington | NC | 0.35% | 1.20% | 6.10% | 57% |
| Burlington | NC | 0.43% | 1.65% | 6.00% | 35% |
| Boone | NC | 0.33% | 1.26% | 5.80% | 79% |
| Siler City | NC | 0.13% | 0.63% | 5.80% | 45% |
| Elkin | NC | 0.39% | 1.76% | 5.70% | 36% |
| Rocky Mount | NC | 0.58% | 1.93% | 5.70% | 36% |
| Wilson | NC | 0.24% | 0.81% | 5.70% | 47% |
| Chapel Hill | NC | 0.41% | 2.03% | 5.60% | 61% |
| Elizabeth City | NC | 0.72% | 2.35% | 5.60% | 39% |
| Lenoir | NC | 0.55% | 2.24% | 5.40% | 40% |
| King | NC | 0.52% | 1.81% | 5.30% | 35% |
| Southern Pines | NC | 0.16% | 0.51% | 5.00% | 55% |
| High Point | NC | 0.25% | 1.40% | 4.80% | 38% |
| Morganton | NC | 0.44% | 1.82% | 4.70% | 44% |
| Winston-Salem | NC | 0.60% | 2.43% | 4.70% | 40% |
| Laurinburg | NC | 0.31% | 1.24% | 4.60% | 33% |
| Newport | NC | 0.36% | 0.85% | 4.60% | 44% |
| Waynesville | NC | 0.50% | 40.51% | 4.60% | 56% |
| Hillsborough | NC | 0.49% | 1.88% | 4.50% | 47% |
| Greensboro | NC | 0.31% | 1.34% | 4.40% | 37% |
| Pinehurst | NC | 0.16% | 0.62% | 4.40% | 58% |
| Hickory | NC | 0.42% | 1.35% | 4.20% | 46% |
| Wilkesboro | NC | -0.26% | 0.11% | 4.20% | 49% |
| North Myrtle Beach | SC | 0.62% | 1.34% | 4.20% | 51% |
| Columbia | SC | 0.34% | 1.10% | 4.10% | 37% |
| Lincolnton | NC | 0.35% | 1.77% | 4.00% | 41% |
| Spartanburg | SC | 0.50% | 2.06% | 4.00% | 38% |
| Asheville | NC | 0.59% | 1.95% | 3.90% | 66% |
| Goose Creek | SC | 0.46% | 1.52% | 3.90% | 40% |
| Sumter | SC | 0.02% | 0.32% | 3.80% | 31% |
| Kinston | NC | 0.36% | 0.52% | 3.70% | 32% |
| Lumberton | NC | 0.10% | 0.37% | 3.70% | 34% |
| Pittsboro | NC | 0.16% | 0.66% | 3.60% | 57% |
| Hendersonville | NC | 0.23% | 1.05% | 3.40% | 56% |
| Greenville | SC | 0.44% | 1.14% | 3.40% | 40% |
| Clemmons | NC | 0.29% | 1.12% | 3.20% | 41% |
| Jamestown | NC | 0.10% | 0.67% | 3.20% | 49% |
| Arden | NC | 0.50% | 1.68% | 3.00% | 52% |
| Easley | SC | 0.20% | 0.48% | 3.00% | 41% |
| Creedmoor | NC | 0.18% | 0.80% | 2.70% | 41% |
| Salisbury | NC | 0.37% | 1.24% | 2.40% | 42% |
| Statesville | NC | 0.26% | 1.21% | 2.20% | 45% |
| Carthage | NC | -0.07% | 0.37% | 2.10% | 39% |
| Kernersville | NC | 0.27% | 1.04% | 2.10% | 40% |
| Leland | NC | 0.15% | 0.46% | 2.10% | 50% |
| Florence | SC | 0.54% | 0.86% | 1.90% | 32% |
| Greer | SC | 0.21% | 0.76% | 1.80% | 38% |
| Summerville | SC | 0.28% | 1.01% | 1.80% | 44% |
| Boiling Springs | SC | 0.25% | 1.26% | 1.70% | 41% |
| Duncan | SC | 0.29% | 1.26% | 1.60% | 37% |
| Orangeburg | SC | 0.43% | 0.46% | 1.50% | 42% |
| Apex | NC | 0.25% | 1.10% | 1.40% | 39% |
| Mebane | NC | 0.19% | 1.30% | 1.40% | 43% |
| Simpsonville | SC | 0.11% | 0.50% | 1.40% | 37% |
| Durham | NC | 0.33% | 1.21% | 0.90% | 49% |
| Raleigh | NC | 0.06% | 0.46% | 0.90% | 46% |
| Charlotte | NC | 0.41% | 1.59% | 0.80% | 46% |
| Shallotte | NC | -0.05% | -0.21% | 0.80% | 50% |
| Myrtle Beach | SC | -0.02% | 0.24% | 0.30% | 46% |
| Conway | SC | 0.19% | 0.37% | -0.30% | 50% |
| Lancaster | SC | 0.26% | 0.82% | -0.50% | 50% |
| Morrisville | NC | 0.24% | 0.67% | -1.20% | 37% |
| Clayton | NC | 0.06% | 0.16% | -3.20% | 39% |
| Gaffney | SC | -1.10% | -4.20% | -4.80% | 45% |
| Newberry | SC | 0.16% | -1.05% | -9.00% | 35% |
Multifamily Market News 