What homebuilders, developers see as biggest challenges facing Charlotte's housing market

CHARLOTTE, N.C. — Those who work in Charlotte’s for-sale and multifamily industries were hardly surprised by findings from a comprehensive housing study by the Childress Klein Center for Real Estate at UNC Charlotte.

But panelists at the housing summit hosted by the school last week said they hope having the up-to-date and volume of data will help move the needle on issues the city is facing today, including a shortage of inventory, escalating housing prices and policy issues that some say are prolonging the time it takes to get developments rezoned, permitted and built.

“We are one of the most supply-constrained metros in the country,” said Mark Boyce, founding partner of True Homes, a prolific homebuilder in the Carolinas. “If we were to acquire a piece of raw land, it would take us 24 to 36 months to deliver product ... there is a concern about where we’ll be in the upcoming years.

“We think the problem is getting worse at a faster pace,” Boyce continued. He said there are five L’s that homebuilders pay attention to: labor, laws, land, lots and lumber. Laws, or regulatory issues, is the one that has kept him up at night the most these days, he later added.

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