#charlotte north carolina real estate
Charlotte Housing Market Report
The Charlotte Real Estate Market Report with Focus on Inventory and Pending Home Sales
There s good news for the Charlotte Real Estate Recovery train for sellers as well as an ‘alert’ to prospective buyers that NOW is the time to buy! Buyers have been perched upon the wait-and-see fence for some time now, thinking that the market still had a ways to go as it spiraled downward. Mortgage interest rates also continued to fall during the recession and with both numbers (housing prices and mortgage rates) at their rock bottom, the recovery train began.
As we near the end of 2011, Q3, we’re seeing a fairly steady rise in Charlotte North Carolina real estate sales. Interest rates remain low but, why not consider a purchase before both interest rates and housing prices simultaneously rise? As you can see in the first two graphs below, the pending sales for the last 3-month period shows a20% increase over last year . same period.
Charlotte NC Pending Home Sales
Charlotte North Carolina real estate inventory has also shown a significant decline over the past year. From a high of 27,784 in July 2010 to a low this past month, August 2011 of 21,319, the Charlotte real estate market has shown a 24% reduction in inventory. Again, NOW is a great time to buy!