Closed sales began to cool for much of the country last month, and conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year, given the low inventory situation in most markets. Demand is certainly present and has created competitive situations that have kept prices up. Rental prices are also up, which may lure more toward homeownership.
New Listings were up in the Charlotte region 7.3 percent to 5,027. Pending Sales increased 23.2 percent to 4,525. Inventory shrank 22.7 percent to 11,150 units.
All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association