Charlotte metro region real estate market continues its steady improvement. Latest activity supporting this includes:
A decrease in home inventory levels of 18.4% for the three months ending July 21, 2012.
Pending sales (homes in contract) increased 23.7% for the three months ending July 21, 2012.
Average sale price was down 1% for the three months ending July 21, 2012, but up 5.3% over 2011.
Home sellers, on average, are getting 2% more of their asking price in sale price and 3.4% more than in 2011.
Year over year (July 2011 through June 2012), Charlotte metro has 10.3 months of housing inventory versus 13.2 months a year ago. Thats a 22.5% decrease in inventory. So it's still a buyer's market, but edging ever closer to the six month inventory levels that would indicate a balanced market.
During June 2012 our months supply of inventory decreased 29% to 9.3 months!
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With interest rates at historic low, home affordability has never been higher. The Charlotte metro regional real estate market is holding its own and it's as good a time to buy as we've seen!