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Charlotte Huntersville Matthews Area Home Sales for February, 2020
Consumer demand high as a kiteMarch is here, and consumer demand for Charlotte real estate continues to soar. Despite the low inventory of homes for sale, all regions of the country are seeing double-digit increases in the number of homes shown, a vital indicator of future home sales. Despite concerns about the coronavirus, the positive indicators for the housing market continue to outweigh the negative indicators.
Still flying high!On the bright side, we’re seeing increased activity by builders, who have had major problems in keeping up with demand. So relief should be on the horizon.
The monthly numbers for the greater Charlotte region reinforce this forecast. As of February 29, the median sales price grew by $27, 892, or 11.9%. The percent of original list price received inched up by .9%. So consumer demand, backed by favorable trends in the unemployment rate and expected wage stability, certainly remains high. Of course, persistently low inventory in the number of homes for sale helps fuel these rising prices. The number of months supply of inventory fell to 1.5, a drop of 40%, the biggest drop we’ve seen in decades. And the inventory of homes for sale plummeted by 3,074 units, a loss of 31.3%.
On the plus ... more

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