Wow, what’s happening in the Charlotte real estate market right now? Well, its slowing down in the Charlotte area and it’s also happening across the nation. This is typical for this time of year and also most likely due to the fact that interest rates. Interest rates are rising are playing a role in this trend. Sellers, remember, as interest rates increase, a buyer’s buying potential goes down by 10%. And buyers, don’t wait. Interest rates have increased about a half a percent just in the past 60 day alone. And according to CNBC, rates could go up by another quarter point before the end of the year. And according to the federal reserve we are expecting another three rate heights to follow in 2019. We’re also noticing another trend, that the number of homes that are selling each month is actually going down. However, homes that are below $250k are selling very quickly because of the lack of inventory for homes in that price range.
(use stats from your local area for the next section) We’re gonna compare Charlotte, Cabarrus County and Gaston County, and you’re gonna see it, it’s not as bad as news stations and the media make it out to be. Yes, homes sales across the region region but if you dive into the numbers… In the last 6 months there has been a decrease of sales in Charlotte by only 4.5 percent. Let’s look at sales In Cabarrus County now. We had a 1.2 percent decrease in sales over the last 6 months. And lasting when Looking at Gaston County sales, from July to November, we saw .6 percent decrease in sales..we’re not even talking about a full percent point decrease in sales.
Listen, it’s really important for you to keep track of local and national trends to know how it affects you. if you’re thinking about buying or selling. And you can reach out to us, because we can advise you on what the best course of action would be for you and how you can take advantage of todays local market.
And hey, let’s face it, we all love real estate, right? So it’s a good thing just to kind of know whats going on locally even if you’re not thinking about buying or selling. And as always, make it a great home selling and buying day, and we can’t wait to hear from you.