Rankings/Burlington, NC

Burlington, NC

NeutralTier 1CBSA 15500Compare

Risk Rank: #122 of 274Month: 2026-06Score change (12m):↑ +12

52score

Composite risk percentile vs 274 metros (higher = higher risk)

Executive Summary

Burlington's housing market shows average risk, ranking 122nd of 274 metros. The market recently entered Expansion. Current conditions are balanced with stable liquidity. Broad-based growth with healthy fundamentals.

Burlington experienced a market correction from late 2025 through late 2025. The market has since normalized and entered Expansion.

Inventory is growing at a moderate +8% pace with homes taking +10% longer to sell — within normal ranges.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

2 months in current phase·from Expansion

Normal growth conditions with balanced fundamentals

Key Dynamics

Risk is primarily driven by price momentum and permits per capita, while permit growth provides the most support.

Top Drivers

Price Momentump95

12-month HPI change

Permits per Capitap93

Permits per 1,000 residents

Affordabilityp49

Mortgage payment / income

Market Signals

Inventory is growing at a moderate +8% pace with homes taking +10% longer to sell — within normal ranges.

Liquidity

Stable↓

Active Listings YoY

+7.8%p57

Days on Market YoY

+10.0%p67

Months in status2

Data through Jun 2026

Valuation

Balanced—

Rent vs. Price Growth

-1.8%p36

Months in status2

Data through Jun 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumHigh Risk

+3.5%p95

12-month HPI change — higher = overheating

Permit GrowthLow Risk

-26.7%p11

YoY permit change — higher = supply pressure

Permits per CapitaHigh Risk

10.61p93

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityNeutral

0.29p49

Mortgage payment / income — higher = more burdened

EmploymentBelow Avg

+0.9%p32

12-month employment change (risk inverted)

MigrationBelow Avg

+$50Kp31

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Normal expansion. Credit is available, transactions are healthy — no constraints on current growth momentum.

Bank Lending Standards

N/ANormal

Rate Change (YoY)

-5 bpsNormal

Mortgage Risk Premium

+194 bpsElevated

Stable for 10 quartersData through 2026-Q3

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.90Elevated

Completion-Permit Divergence

-3.1 ppNormal

Accumulating for 5 quartersData through 2026-Q2

Local Signals

Metro Permit Activity

Permit Activity

Sharp Cooling

YoY Permit Growth

-26.7%Significant pullback

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Significant supply pullback into healthy demand. A supply constraint is forming — pricing power is shifting to existing inventory holders.

Employment Concentration

Employment

Moderate

Largest SectorHealth Care 19.3%

QCEW 2024 annual averages

Internal Structure

County-level structural analysis.

County-level structural analysis is not available for this metro due to fewer than 3 qualifying counties.

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2026-05	Exp	50	95	3	49	35	31
2025-12	Ress	35	3	19	38	26	31
2025-11	Hyp	46	48	30	44	20	37
2025-10	Exp	50	72	30	44	20	37
2025-09	Hyp	47	58	30	44	19	37
2025-08	Rec	48	42	30	44	39	37
2025-07	Hyp	48	28	30	44	53	37
2025-05	Hyp	42	15	30	39	37	37
2025-04	Ress	40	19	30	39	20	37
2025-02	Ress	53	64	30	54	36	37
2024-11	Ress	48	24	30	40	60	37
2024-10	Hyp	56	51	30	40	83	37
2024-09	Ress	62	90	30	50	69	37
2024-07	Ress	52	76	30	50	26	37
2024-06	Hyp	50	52	30	47	35	37
2024-05	Ress	45	41	30	47	21	37
2024-03	Ress	55	87	30	53	26	37
2024-02	Hyp	56	92	30	53	28	37
2024-01	Rec	52	94	30	53	2	37
2023-12	Hyp	40	45	30	32	1	37
2023-11	Ress	39	35	30	32	4	37
2023-09	Ress	40	42	30	35	1	37
2023-08	Hyp	42	48	30	35	3	37
2023-06	Hyp	49	86	30	38	6	37
2023-03	Ress	46	77	30	33	6	37
2023-01	Ress	54	87	30	33	40	37
2022-10	Hyp	65	99	30	49	81	37
2022-08	Ress	63	91	30	44	78	37
2022-06	Ress	63	90	30	40	87	37
2022-05	Exp	65	90	30	40	97	37
2022-03	Rec	61	82	30	34	88	37
2022-01	Rec	60	78	30	34	84	37
2021-12	Exp	56	76	30	23	73	41
2021-10	Exp	52	79	30	23	45	41
2021-07	Exp	49	81	30	22	22	41
2021-04	Rec	46	69	30	18	22	41
2021-02	Rec	47	72	30	19	26	41
2020-12	Exp	42	41	30	10	34	41
2020-10	Exp	40	32	30	10	34	41
2020-09	Rec	40	22	30	10	40	41
2020-07	Rec	44	28	30	10	56	41
2020-04	Exp	51	79	30	10	48	41
2020-02	Exp	50	80	30	10	45	41
2019-12	Rec	41	73	30	10	6	32
2019-10	Rec	36	35	30	10	12	32
2019-09	Exp	39	62	30	10	6	32
2019-07	Exp	44	95	30	10	1	32
2019-04	Exp	39	31	30	8	36	32
2019-01	Exp	44	68	30	8	31	32

Data Vintages

Price (HPI)2026-Q1

Permits2026-06

Income2024

Employment2026-06

Migration2023