Existing home sales have reached their highest level in 10 years all across the USA. Obviously, for home owners and home sellers this is great news... for home buyers, maybe not so much.
The RE/MAX National Housing Report for January 2017, which I posted yesterday, revealed that home sales in January set a record pace, topping all other January months for the past nine years. The report also showed that inventory of homes for sale has declined year-over-year for 99 consecutive months, going all the way back to October 2008.
HOW DOES THE CHARLOTTE, NC MARKET COMPARE TO SALES TRENDS IN THE SOUTH?
- Year-over-year Charlotte closed sales were up 14.8% (and pending sales were up 20.6%) last month.
- Year-over-year Charlotte's median sale price was up 14.5% to $205,000 last month (a tad higher than the median sale price in the South).
Planning to sell your home in 2017? This may just be the time to sell your home while home sales are up, prices are up, buyers are plentiful, and interest rates are low. It's also a good time to trade up to that next home before prices go up further.
Planning to buy a home in 2017? This may just be the time to buy before home prices and interest rates increase further. Inventory remains tight and as we enter the spring and summer selling season you'll be competing with more buyers for the same homes.
This housing report/update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate consultants.
If you are considering purchasing or selling a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
"The Right Broker Makes All The Difference."