The Asheville housing market has proven resilient. Historically, it has been one of the last markets to feel a downturn and the first to rebound. Asheville is a destination market with a shortage of good, affordable housing. I strongly believe there is a boom yet to happen in Asheville given the quality of life the area provides, temperate climate, relative home prices, and popularity with retirees. Once feeder markets such as Florida and other areas in the Southeast, Midwest and Northeast recover and people are able to sell again, they will be coming to Asheville. There are also a good many retirees who go to Florida then decide that the Sunshine State is not what they wanted so they pack up and move the Asheville. The locals call them “Half-Backs”.
Here is a link to a segment that aired recently on CBS Sunday Morning. http://www.cbsnews.com/video/watch/?id=5020563n It’s a very positive piece and reinforces why I am bullish about the Asheville-area real estate market. The segment features the developer of The Cliffs Communities, Jim Anthony. His latest community, Southcliff in Asheville, will feature the first Tiger Woods course in the U.S.