Housing Market In Charlotte, NC. Continues To Show Signs Of Improvement

The housing market in Charlotte, NC. continues to show signs that it is coming out of one of the worst housing recessions in our memory. All the signs are pointing to the fact we are on the upswing and consumer confidence is rising on selling and buying homes. The facts are showing this trend to be accurate as well. In February 2013 the city of Charlotte, NC. had 730 closed sales versus 573 in February 2012. That accounted for an increase 27.4% in homes that actually closed in the month of February form the previous year. Being we are in the south the weather does not really factor in for us as it would for home sellers and buyers in areas of the country prone to snow. Another interesting fact that shows evidence that the housing market is in the upswing is pending sales. These are homes that are under contract but have not yet closed because of loans and other factors; but are scheduled to close. The number for February 2013 was 1,149 homes under contract. In February 2012 that number was 709. That is an astonishing increase of 62.1% from last year at the same time. Couple that with the fact that home inventory in the city of Charlotte, NC. is down to 3.1 months at the end of February 2013 versus 7.7 months the same time last year and there is a lot of reason why sellers are starting to put homes back on the market and buyers are not hesitating to purchase homes now. However; like all things it always comes down to price and market. You still have to price your home to sell based on current market conditions and not over price your home. Buyers are buying homes but they are not overpaying for homes based on market conditions..... Dave diCecco Realtor/Broker Coldwell Banker United www.davedicecco.com