April 4th, 2017
Signs of a Strong Charlotte Real Estate Market Ahead: Part One
Charlotte’s residential real estate market appears to be in for another record year reaching highest ever average sales price and a record number of home units sold, said Jeff Adams, President of Helen Adams Realty.
At Helen Adams Realty, we want to be your local experts at the Charlotte and national real estate market. This article is the first part of a three part series of blogs about what you can expect from Charlotte’s real estate industry in the near future. Home buyers and sellers and real estate agents can come to our website to learn about market updates and industry trends.
According to a University of Michigan Consumer Sentiment Survey, as you can see in the link below, our national real estate market is moving toward a balanced market. This happens when both buyers and sellers believe that it is a good time to move forward in real estate transactions. A balanced market typically equals six months of inventory, which means the prices won’t get overheated or drop too much.
Home builders are expecting future single family starts to reach 1.2 million units this year compared to actual starts in 2016 of 800,000, according to Wells Fargo’s Builder Confidence Survey explained in the link below. This means home builders are anticipating building 400,000 more homes this year than last, an impressive 50 percent jump.
With Charlotte’s economy and population growing quickly, the outcome can be positive for people interested in selling their homes. The demand is available to create a booming real estate market in the Charlotte area.
Be sure to check in next week for the second part of this real estate market analysis and if you are interested in buying or selling your home, call one of our real estate experts to start the process and get your questions answered. And look out for our future blog posts to learn more about what to expect in Charlotte’s real estate market.