Summer 2019 Is A Great Time To Buy A Charlotte Area Home You'll Love

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

3 Top Reasons Summer 2019 Is A Great Time To Buy A Charlotte Area Home You'll Love!

 

1. Home Prices Will Continue to Rise

CoreLogic's most recent US Home Price Insights report shows that home prices have appreciate 3.7% over the past 12 months. This report also predicts that prices will continue to increase at a rate of 4.8% in the coming year.

 

In the Charlotte region, through May 2019 average home sale prices have increased 3.6% year-to-date, while median home sale prices have increased 4.5% year-to-date. Housing affordability is down 5% in the Charlotte region 2019 year-to-date. Meantime, inventory of homes for sale continues to decrease.

 

With home values continuing to appreciate and buyer demand continuing to exceed the supply of homes for sale, waiting to buy a home or to upgrade to another home might no longer make sense.

 

 

 

2. Interest Rates Are Projected To Increase

Most experts predict that rates will rise over the next 12 months, even if more slowly than initially thought earlier in the year. The Mortgage Bankers Association, Fannie Mae, Freddit Mac, and National Association of Realtors® (NAR) all project higher interest rates by summer 2020.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home. Couple it up with an increase in home prices and you're paying way more from both ends.

 

 

 

3. Put Your Housing Cost To Work For You

Rent or buy... you're paying a mortgage. Would you rather pay your landlord's mortgage or your own? Paying your own mortgage allows you to build equity in your home, which you can tap into later in life. When you rent, you essentially give that equity away to your landlord. Home ownership delivers unsurpassed family wealth. And don't forget when you have your own mortgage, you fix your housing costs over the long term -- something you can't do with a lease. Why not put your housing costs to work for you?

 

Home ownership delivers unsurpassed family wealth

 

If you've been thinking about buying a Charlotte area home this summer, be sure to check out our Summer 2019 Home Buyer Guide: Things To Consider Before You Buy A Home.

 

Summer 2019 Home Buyer Guide

 

 

Contact Carolinas Realty Partners if we can answer any questions you might have about the Charlotte metro housing market or about what shopping for your new home might entail.

 

Top 8 Reasons To Own Your Home

 

Know The Cost of Waiting To Buy Your Home

 

 

Need to sell your Charlotte area home this summer before buying a new home? Check out our Summer 2019 Home Seller Guide to "Things To Consider Before Selling Your House."

 

 Instant home value from greathomesincharlotte.com

 

 

Search All Charlotte Metro Area Homes For Sale Here

 

free home listing alerts from greathomesincharlotte.com

  

 

 

We've been opening doors for Charlotte area home buyers for over 20 years. If you're considering  purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

 

Great Homes In Charlotte

 

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2018 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
1,872,120
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - while some parts of the country with high taxes are seeing sales challenges Charlotte keeps moving up.

Jun 22, 2019 09:50 AM #1
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... the prices of homes in Charlotte area will continue to increase so long as we have barely two months of inventory and even less in many parts of the region.

Jun 22, 2019 09:54 AM #2
Rainmaker
1,980,475
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Many have reaped financial wealth by paying attention to the market and knowing when to buy and when to sell!

Great marketing strategy!

Jun 22, 2019 10:56 AM #3
Rainmaker
4,358,946
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Summertime is a great time to buy a home, as you have mentioned, and with the interest rates maintaining and talk of lowering the rates, makes it even better.  A

Jun 22, 2019 11:37 AM #4
Ambassador
3,762,566
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina most of the country has been in a great housing market for a while now, but it will not last forever.  Anyone who is thinking of purchasing a home needs to do it sooner than later, before they become someone who will later be saying I wish I had bought back then.

Jun 22, 2019 02:34 PM #5
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto hi George... I've a number of clients who are now lamenting that they didn't buy two years ago and who've been priced out of the market.

Jun 22, 2019 02:53 PM #6
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP thanks, Patricia. Interest rates will go up at some point and meantime with lack of inventory in my market I'm not seeing home prices dropping, especially for more affordable homes and new construction.

Jun 22, 2019 02:54 PM #7
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel hi Alexandra... with home price continuing to increase, buyers need to take advantage of lower interest rates while we have them.

Jun 22, 2019 02:54 PM #8
Rainmaker
3,142,538
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Yes building equity in your own place instead of in someone else's pockets Nina. As you point out, it's a great time to buy a home in Charlotte!

Jun 22, 2019 03:27 PM #9
Rainmaker
2,486,816
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Nina, those are the best reasons to by a Charlotte NC home this summer.

Jun 22, 2019 07:58 PM #10
Rainmaker
3,186,531
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Great post and I loved George Souto  advice.... when we came to Los Angeles 22+ years ago homes in the Hollywood Hills were selling in the mid $300k range... now they are in the mid $2 million range.... and I could mention other examples too...Endre

Jun 22, 2019 11:39 PM #11
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. thanks, Endre. I have similar stories about NYC price appreciation. Not quite that dramatic in Charlotte, but then again, we are not a particularly speculative real estate market.

Jun 23, 2019 06:12 AM #12
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Rebecca Gaujot, Realtor® hi Rebecca... I've already got several clients who are lamenting that they didn't buy a few years ago in Charlotte... now it's costing them a whole lot more.

Jun 23, 2019 06:12 AM #13
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 good moring, Sheila and Larry... there are always reasons why some people should not buy a home, but more often than not the best way to build wealth longer term is to own one's home.

Jun 23, 2019 06:13 AM #14
Rainmaker
2,481,431
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Those are great reasons and anyone that is currently renting would be wise to listen to you!

Jun 23, 2019 06:51 AM #15
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... when I hear what rents are in Charlotte these days, I'm aghast that people who have the means to buy don't do so.

Jun 23, 2019 06:56 AM #16
Rainmaker
1,175,842
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander,

The Charlotte area is so hot that this is absolutely the right time to buy and buyers need someone with your savvy to make it happen for them!

Jun 23, 2019 07:26 AM #17
Rainmaker
3,017,440
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® good morning, Sheri... I keep trying to pass along this message that NOW is the time to buy! Happy Sunday.

Jun 23, 2019 07:50 AM #18
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