Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 106 NUMBER 12 ■ MECKTIMES.COM
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2 in 3 U.S. companies plan to expand their teams Page 3
Second home transactions are on the upswing Page 2
Capital Wealth Advisors prmotes Mike Martin to senior vice president Page 4
NOVAK :Best coping skill: Compartmentaize your life Page 5
ENNICO: A ‘Pep Talk’ for Tomrow’s Entrepreneurs Page 6
Fed begins inflation fight with key rate hike, more to come Page 7
U.S. housing market has doubled in value since the Great Recession Home values in the U.S. gained a record $6.9 trillion in 2021, nearly doubling what was previously the largest annual gain of $3.7 trillion in 2005. The full U.S. housing stock is now worth $43.4 trillion, according to a new Zillow® analysis. Strong demand met limited supply in 2021, driving home values up more than ever before — home values grew 19.6%
last year, an all-time high in Zillow’s data, which dates back more than 20 years. That remarkable rise means U.S. housing is now worth twice what it was a decade ago, in the midst of the Great Recession. Zillow economists expect another strong year in 2022. “Even in the context of a year in which several housing records were topped, the
scale of the housing market’s growth in 2021 is eye-popping,” said Zillow senior economist Jeff Tucker. “Not only did prices rise faster than ever, but more homes were built than in any year since 2007 as builders raced to meet demand. Skyrocketing home values may be
PLEASE SEE HOUSING VALUE ON PAGE 4
“The pace of small business job growth continued to grow in January, reaching a new record high powered by the return to work in leisure and hospitality.” James Diffley, IHS Markit
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