CHARLOTTE, N.C. — Fewer homes for sale and higher prices on the listings are making it hard for Charlotte-Mecklenburg Schools teachers to buy a home in Charlotte.
A solution to that would be to pay teachers more and Superintendent Clayton Wilcox is expected to recommend a raise for them at Wednesday night’s school board meeting.
Real estate agent Sweetie George-Bohol said Charlotte's housing market is prime for sellers.
“I have had up to 10 offers on one property,” she said. “That's how crazy the market is.”
That can be a challenge for anyone, especially for buyers with a modest income, including teachers.
A new study from Trulia puts the median income for teachers in Charlotte just over $47,000.
The median list price for homes in Charlotte is more than $342,000.
Teachers can only afford about 21 percent of the current listings, which is about 11 percent less than last year, according to the report.
“We're getting into multiple offers on several homes and so, unfortunately, some people are getting priced out,” George-Bohol said.
Former CMS teacher Judy Kidd said the situation is disheartening.
“What person doesn't want to own their own home?” Kidd said. “They're educated. An educated person knows the way to fiscal responsibility is to purchase a home.”
She said low pay is driving good teachers to better-paying states, including Texas.
A 2017 report from Education Week placed North Carolina among the 10 states where teachers get paid the least.
Wilcox’s pay-raise proposal is meant to help them afford to live and work in the community they serve.
“When you get frustrated because you can't afford a home, that only magnifies, ‘Do I really want to stay in this field?’” Kidd said.
George-Bohol said there is an unprecedented number of first-time home buyers in the market now and that's also complicating things for teachers but she said there are state and federal programs that can help teachers purchase a home.
RELATED LINKS:
- http://www.cmhp.org/
- http://communitylinknc.org/
- http://www.teachernextdoor.us/North-Carolina
- http://www.cmhp.org/homeownership/housecharlotte-program/
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