Despite rising interest rates, home sales continue to increase month over month in Charlotte NC. While this is good news, that increase is starting to simmer off slightly.
Standard & Poor's Case Shiller index reports this week that the increase from May to June 2013 was up 1.3%. The increase from April to May 2013 was about the same at 1.2%.
Many parts of the country are staring to taper off to no increase with some areas weakening in prices. This could likely be contributed to the increase in interest rate and declining inventory.
Despite the rise in interest rates and low inventory, the Charlotte market remains strong with many homes receiving multiple offers as soon as the hit the market.
Not enough new homes are being built and as long as the inventory remains low, prices are expected to continue to increase here!