The September 2016 housing market update from the National Association of Realtors (NAR) indicates that lack of inventory is impacting home sales, which were up less than 1% over one year ago, while inventory was down 10.1%.
How The Charlotte, North Carolina Housing Market Compares To National Averages:
- Charlotte Region Average Sale Price: up 7.2% compared with a 5.1% increase nationally.
- Charlotte Region Sales: up 3.2% compared with a 0.8% increase nationally.
- Charlotte Region Inventory: down 22.1% compared with a 10.1% decrease nationally.
Despite double digit decreases in Charlotte region's inventory month after month, home sales in the Charlotte region continue on an upwards trajectory and doing better than national averages. But without a doubt, the lack of inventory is fueling increasing home prices as demand outstrips supply.
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This Charlotte, NC region housing market update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants.
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