A Saving Grace to Boost Charlotte Existing Home Sales

By
Real Estate Broker/Owner with One Home Team Realty/Charlotte,NC 704-293-3931 246546

Home Sales

Can existing home sales slide at the same time they advance? Charlotte real estate watchers who have heard similar conflicting accounts on successive news reports could be forgiven for deciding somebody is confused. They might be right about that, but in fact, both reports are technically correct.

The contradictory accounts may have originated from a press conference held a while ago by the National Association of Realtor®s’ Lawrence Yun, the group’s chief economist. At first, it sounded as if U.S. sales—particularly existing home sales—was a straightforward bad news story. “Contract signings were down,” was the main takeaway. A video of the press conference didn’t dispel the impression, showing journalists, clicking away on their notepads. And in fact, the total represented an existing home sales figure representing a falloff from the same month a year earlier.

But then came the next news: recorded prices were up! Existing home sales figures showed sales prices had risen a full 5.8%, compared with the previous year.

Charlotte buyers and sellers who’d managed to catch only brief snippets of the news might well have come away with either of the two contradictory impressions. Particularly for those who plan to sell their Charlotte home this spring, the true state of affairs could be relevant. If sales are sluggish, it could lead them to consider a lower asking price—or even to hang back from the market temporarily. On the other hand, if buyers are demonstrating they’re willing to put more cash on the table, it could be time to strike now while the iron is hot!

Which is it?

It’s both true that the number of homes being put up for sale is (at least for now) less than overwhelming, and also true that sales prices are on the rise. As with any time demand is greater than supply, prospects who are determined to buy will be willing to make higher offers—even as the total number of sales is stuck in neutral. Viewed from a global perspective, it’s a good news/bad news story that makes perfect sense.

Even for buyers encountering higher asking prices, there’s a saving grace—it’s the fact that by historical standards, Charlotte home loan rates are still yielding truly affordable monthly payment numbers. That creates what we see in this spring’s market: opportunities that reward both Charlotte buyers and sellers.

Call us to see what I mean!

Posted by

Wayne Bennett - Broker Owner / Realtor ® GRI, ABR, e-PRO, SFR, CDPE

Licensed in NC & SC

One Home Team Realty

O: 704.218.2064

C: 704.293.3931

F: 704.749.2030

 

http://www.CharlotteNCAreaHomeSearch.com

http://www.CharlottePropertySource.com

 

                  

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
North Carolina Mecklenburg County
Tags:
charlotte real estate
existing home sales
charlotte buyers and sellers
charlotte home loan rates

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
201,650

Wayne Bennett

Real Estate...As It Should Be
Ask me a question
*
*
*
*
Spam prevention