The numbers are out and we have seean a bit of a bump in the numbers from this time last year. I think we have definately stopped the bleeding, but it is going to be a long road to market recovery. Last month was a great month for most real estate companies. I have not seen a sales and listing board so active in the past three years. Flash forward to today. It being May 19th we are in the prime of the spring selling season, interest rates are under 5% and the only properties I see on the sales board are generally properties that have been dramatically reduced and there are few of them. I have been looking at the numbers on showings statistics and they have simply slowed way down from the past couple of months. I think we have a long road to recovery in this market. The main activity seems to be the bottom feeders looking to by homes well under market value. I think there is a good bit of the mysterious "shadow inventory" out there that has not reared its ugly head yet. Until unemployment is checked the market is going to continue to suffer.
Timothy Jones,ABR
Broker/Realtor/NC/SC
Helen Adams Realty
2301 Randolph Rd, Charlotte, NC 28207
Cell: 704.488.9185
Office: 704.375.8598
Fax: 704.749.9524
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