December 13th, 2012 Categories: Real Estate News
Charlotte Home sales surged 35% higher in November, thats in units sold, compared with November 2011, continuing the year long trend of advancing sales and increasing prices. ?Home Prices continue their gradual increases.
Why? Is the economic rebound so strong? Or is there another Reason? Take a look at this telling chart below, or what $1100 per month will buy in a house today, at 3.25% interest rates.
My first home, in the early 1980?s cost me about $1100/month, and it cost $85,000. ?So first home buyers you are in luck. Just don?t overbuy.
Yesterday, Chairman of the Federal Reserve Ben Bernanke announced interest rates would stay close to zero until we get below 6.5% unemployment. 2012 is going to be a good year around the country.
Buyers need to continue to buy smart! ?Buy what you need for the next 5 years, and resist the urge to overbuy.
Buyers Markets Becoming Sellers Markets In Charlotte
Good news for home Sellers in Charlotte! Across the area, home inventories are down, new home inventory is low, and many of Charlotte?s favorite zip codes have fewer than 6 months of inventory, some only ?3-5 months! Many of these same zip codes had 11 and 12 months of inventory a year ago.
In real estate , we condsider 3 months or less an Extreme Sellers Market, and 3-6 months of inventory, an average Sellers Market. See whats going on in your south Charlotte zipcode, and price range at our November Real Estate Market Report
This continues the trend seen all summer of gradually rising prices and very sturdy increases in unit sales since April. ?Before getting too excited know that there are still hurdles on the high end, and further into the suburbs, but never the less 2013 will show an improvement over 2012. ?tm
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Source: http://charlottecommunitiesonline.com/2012/12/13/charlotte-home-sales-rebounding/
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