RE/MAX National Housing Report July 2017

RE/MAX  July 2017 National Housing Report: June 2017 Housing Data

 

The RE/MAX National Housing Report for July 2017:  "First Half of 2017 Ends with Record Sales, Prices" was this month's headline.

According to the July 2017 National Housing Report From Re/MAX:  "Halfway through 2017, the U.S. housing market is on pace for another record year as four of the last six months have topped same month sales from 2016  was the story of the month."

To quote Adam Contos, RE/MAX Co-CEO:  “Sellers continue to benefit from limited inventory, getting top-dollar for their homes, and as a result, overall sales are at a record high. But buyers shouldn’t be discouraged. Mortgage rates are still relatively low and the market may be taking a positive turn, albeit subtle, as recent Labor Department data showed a decline in open construction jobs which could mean more workers focused on new home builds.”

 

RE/MAX National Housing Report: July 2017

For a more detailed review, click here for the latest RE/MAX National Housing Report.

 

 How Charlotte, North Carolina's region compared to national statistics in June 2017:

  • Median sale price of Charlotte region homes was up 8.9% compared with June 2016 versus 7.5% nationally. Charlotte area's median price sale has caught up with national averages at $245,000 and increased from $225,000 just one year ago.
     
  • Closed sales in Charlotte region did not compair favorably with national averages of +1.4% with closed sales down 3.8% in June 2017 versus June 2016, which can essentially be attributed to the extreme lack of inventory in the Charlotte region.
     
  • Months supply of homes in the Charlotte region was 2.5 months, down 28.6% versus June 2016. Charlotte region's months supply of homes remains a bit lower than the national average of 2.8 months.
     
  • Inventory of homes in the Charlotte region was down 20.2% in June 2017 (compared with national figures down at 16.2%) as compared with one year ago.
     
  • Average days on market in the Charlotte region compared favorably with national averages of 47 days with days on market until sale at 40 days (down 7 days and 14.9%) and cumulative days on market at 48 days (down 12.7%) in June 2017 versus the same month one year ago.

 

With continuing demand for homes and rising home prices due to lack of inventory, it may be the perfect time to sell your home. It may also be the perfect time to buy a home before both home prices and interest rates rise further.

  

This real estate monthly update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants. 

 

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