Charlotte Real Estate Market Leveling

Recent statistics for the Charlotte real estate market indicate that we may have reached the bottom of the sales slump, a decline nowhere near what most of the country has experienced. Average home sales price is $223,946, down a “sliver,” according to a recent Charlotte Observer article penned by Allen Norwood.

Norwood, citing the President of the Charlotte Regional Realtors Association, Dot Munson, writes that it appears that if we can maintain current conditions for a few more months, we should be okay. Two factors that could contribute to a market turnaround are the presidental election and a possible rise in mortgage rates.

I believe that even in a close presidential election in Novemner, at least half of the people will be happy about the outcome. Once the election is decided, and we aren’t being bombarded with political ads and media coverage of how awful everything is, we can return to a more normal existence. One thing I know is that our plight is seldom as bad as presidential candidates make it out to be. Curent inflation statistics aside, the investing adage, “buy low, sell high” applies to real estate as well. Now would be a great time to find that home you’ve wanted. While you probably won’t be able to steal a home, you could find a great value that will appreciate over time. Just remember, real estate isn’t day trading.

If you would like to search for a new home, but don’t know where to begin, let me suggest an automated search of the MLS that alerts you via email of properties for sale that meet your specific needs. I can help you with that, and it is free. Just call me or email me and we can have your search running in a few minutes. Are you ready?

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