Thank you to the Charlotte Regional Realtor® Association for providing the Charlotte monthly indicators reports. The following information is the analysis provided by the association. You can read the entire report by selecting the link below or any of the images.
“Even while the pace of home price acceleration normalizes, housing has shown recent signs of ongoing strength. Both housing starts and future building permits are on the rise nationally. Inventory levels are increasing in most metro areas, driven higher by rising prices and more confident sellers. Homes are still selling quickly and for close to or even above list price.
New Listings in the Charlotte region decreased 4.4 percent to 4,053. Pending Sales were up 20.5 percent to 3,198. Inventory levels fell 12.6 percent to 14,519 units. Prices continued to gain traction.
The Median Sales Price increased 5.9 percent to $180,000. List to Close was down 1.5 percent to 128 days. Sellers were encouraged as Months Supply of Inventory was down 18.2 percent to 4.8 months.
Interest rates remain attractive, even as Federal Reserve banter is finally hinting that quantitative easing is reaching its fateful conclusion. Capital markets have exhibited some volatility, but ultimately it’s all about earnings and growth, and corporate earnings have been encouragingly strong, while private job gains have recently exceeded expectations.”
Charlotte Real Estate – Monthly Indicators Report Oct 2014