Charlotte Leads for Scheduled Inventory Growth in 2019
Among the nation’s top 50 markets, Charlotte is expected to take the top spot for inventory expansion during 2019. The market is projected to grow its inventory 4.1% this year, a rate that strides slightly behind its 2018 growth pace of 4.3%, which ranked #2 nationally. Denver, Dallas and Austin were near the top of the leaderboard in 2018 and will remain among leaders this year. Seattle and San Jose are expecting a surge in deliveries this year, with inventory growth of 3.9% and 3.7%, respectively. Last year, Seattle posted a growth rate of 1.9%, while San Jose posted growth of 1.3%. Oakland is also expecting a big boost in deliveries in 2019, with its inventory expanding 3.3%, up from just 0.5% in 2018, which was a bottom three performance among the nation’s top 50 markets. On the other hand, Nashville’s growth pace should fade. While Nashville led the top 50 markets for completions during 2018, that market is expected to drop to eighth place in 2019 (4.4% in 2018 versus 3.1% in 2019).