July 2022 home sales were down year-over-year for a seventh consecutive month. Pending sales were also down year-over-year for a seventh consecutive month.
Higher home prices coupled with higher interest rates have impacted affordability and cooled buyer demand. Home buyers are frustrated by higher rates, rising home prices, and economic uncertainty. As a result home sales and mortgage applications have fallen since last year at the same time. As pending sales are a good indicator or future sales and buyer … (30 comments)
charlotte nc region real estate: Charlotte, NC Region Housing Market Report/Video: 4th Quarter 2018
- 01/21/19 04:09 AM
Charlotte, NC Region Housing Market Update: 4th Quarter 2018 4th quarter 2018 Charlotte, North Carolina region’s home sales continued the trends we’ve seen since 2015. Home buyers are finding the housing market very competitive with higher home prices and a lack of properties to buy. Buyers looking for a bargain are “hard pressed” to find one. Meantime, home sellers continue to sell their homes relatively quickly and for top dollar, when priced right for condition and location. With regional months supply of homes at 2.2 months, the Charlotte region remains very much a seller's market.
The Charlotte region's housing market began the second month of the second quarter with home prices up, closed sales down due to limited inventory, but with pending sales up as compared with May 2017. Both average and median sale prices were up in May 2018. Inventory and the months supply of homes remain low and below what they were one year ago with homes selling faster as a result.
May 2018 Closed Sales: down 4.2% versus May 2017. Year-to-date, closed sales were down 0.9% (more to do with lack of inventory than diminished buyer interest). May 2018 Pending Sales: up 9.7% versus May … (18 comments)
Latest news on the Greater Charlotte Region's real estate market in July 2022...
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