Industry Trends 2012 Issue 2 - 10

REPORT 8
10

regional report
Focus on the South

T

he Southern part of the United States is typically a net inbound region, with northerners moving in for job prospects and warmer weather. The numbers below show a more balanced picture in Alabama, Georgia, and Mississippi, with Kentucky actually a net outbound state, along with the city of Birmingham. The Carolinas, Tennessee, and Florida are strong growth areas, with Charlotte seeing a huge inbound imbalance. For those leaving the South, Texas has become the main destination, overtaking Florida. California and Virginia remain popular destinations for Southerners as well. Housing markets in the South are also diverse, with Charleston and Miami featuring average sales prices in excess of $200,000, and other metropolitan areas like Atlanta featuring much more affordable houses around $100,000. Much of the South is rural, where tracking average sales prices becomes more difficult. The South as a whole is tracking very closely to the national average for increases in sales prices, up 7.4% versus 7.3% nationally. Miami and Tampa have seen double-digit increases in the past year, with Memphis close behind. Greensboro, North Carolina, by contrast, has seen prices continue to fall, while Atlanta saw only a 1 percent increase over the past year, according to data from the National Association of Realtors®.

Median Sales Price of Existing Single-Family Homes
Metropolitan Area Birmingham, AL Miami, FL Tampa, FL Atlanta, GA Louisville, KY Jackson, MS Greensboro, NC Charleston, SC Memphis, TN Nashville, TN South Region U.S. 2nd Quarter 2012 2nd Quarter 2012 vs. 2nd Quarter 2011 5.3% 11.0% 11.3% 1.1% 7.5% 7.4% -1.5% 7.2% 9.7% 4.9% 7.4% 7.3%

$154,100 $206,700 $144,300 $103,200 $139,600 $146,500 $127,800 $212,300 $123,500 $159,800 $163,200 $181,500

Source:National Association of REALTORS®

Percent of Shipments Outbound
State Alabama Florida Georgia Kentucky Mississippi North Carolina South Carolina Tennessee
Source: AMSA Data Studies
INDUSTRY TRENDS » 2012, Vol. 2

Most Popular Destinations
State Alabama Florida Georgia Kentucky Mississippi North Carolina South Carolina Tennessee
Source: AMSA Data Studies

% Outbound 48.1% 46.6% 49.4% 52.2% 50.2% 44.6% 45.0% 45.6%

City Birmingham Jacksonville Atlanta Louisville Biloxi Charlotte Columbia Nashville

% Outbound 52.1% 47.6% 50.4% 51.1% 50.2% 39.0% 42.9% 42.9%

2011 TX, GA, FL, VA, TN TX, CA, VA, NC, GA TX, NC, FL, CA, VA GA, TX, FL, CA, NC TX, CA, FL, VA, AL FL, CA, TX, VA, GA NC, TX, FL, VA, CA TX, FL, GA, CA, NC

2004 FL, TX, GA, VA, TN CA,TX, GA, VA, NC FL, TX, CA, VA, TN FL, TX, NC, GA, OH TX, FL, CA, GA, VA FL, TX, CA, VA, GA FL, NC, VA, GA, TX FL, TX, GA, VA, NC
Industry Trends 2012 Issue 2

Table of Contents for the Digital Edition of Industry Trends 2012 Issue 2
