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Charlotte Huntersville Matthews Area Home Sales for February, 2018
The long-term trends we’ve been reporting on in Charlotte real estate are beginning to have their affect on the market. Lenders and builders are feeling the pressure, and the future implications appear positive.  Real estate analysts are now seeing indications that the steady growth in demand and home prices are having an impact on mortgage rates. The Mortgage Bankers Association reports that the average rate on 30-year fixed mortgages with a 20 percent down payment rose to its highest level since January 2014. And with the economy still showing robust growth, we can expect continued upward mortgage rate pressure.
 
The latest indicators confirm these long-term trends are still going strong.
 
At the end of February, 2018, the number of homes for sale dropped by 1,572 units, an overall decrease of 16.4%. The market’s existing inventory is only 8,035 homes. This left only a 2 month supply of homes for sale, a dramatic drop of 23.1% from February, 2017. Another key indicator, the percent of original price received, edged up by .2% to 96.6% as compared to last year at this time. The median sales price, which smoothes out the effect of high-end homes, thereby providing a more representative picture of the movement of ... more

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