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Modest Decline Expected to Follow May's Drop in Pending Home Sales - NATIONALLY
Nationally, year-over-year, May 2010 sales were down 15% compared to May, 2009. Charlotte showed a rise in sales of 18% during that same time. Showings in Charlotte did however, decrease dramatically during June; statistics are pending as to the ratio of 'typical' summer showing-slowing vs. economically impacted showings.
Where did your area rank in May compared to the national numbers? Video below was provided by NAR is based upon national data.
Data from the Charlotte NC MLS shows that our housing market continues to show a slow but, steady improvement. October sales continue to be heavy in the $250K and under market, allowing our second-time home buyers to move up as well.
Charlotte's local economy also appears to continue the upward trend that began in Q2, 2009.Mecklenburg County Charlotte NC expanded 11,500 jobs which was a 15% year-over-year increase from 2008. This, during the worst recession in many years, is nothing short of commendable! FORTUNE Small Business Magazine named Charlotte NC as the 7th best place to launch a business due to our stabilizing local economy.
As a member of the Charlotte Chamber of Commerce, my team has ready-access to new data pertaining to the city of Charlotte, including employment, sales and plans to expand local businesses. This information is reflective of the Charlotte NC housing market. Combined with data from the Charlotte NC MLS , the local economy appears to continue the upward trend that began in 2009, Q2.
The first three quarters of 2009 showed Mecklenburg County Charlotte NC expanding 11,500 jobs which was a 15% year-over-year increase from 2008. This, during the worst recession in many years, is nothing short of commendable. This is one of the reasons that FORTUNE Small Business Magazine named Charlotte NC as the 7th best place to launch a business!
Homes sold in the 'under $250K' price range reflect a large number of first-time home buyers who were taking advantage of the original $8,000 Federal Tax Credit for First Time Home Buyers here in Charlotte. The graph below also indicates that with the increase in sales of the average-priced homes in Charlotte NC , first- and second-time home sellers were able to move up; this statistic was reflected in the movement of the higher priced homes area as per the Charlotte NC MLS data below.
**Above data provided by CMLS is deemed reliable but, not guaranteed.
Should you be searching for or selling a home in the Charlotte NC area, we would love to assist you. Our team has many years of experience in the area to share with you and would be happy to assist you with your Charlotte NC real estate needs.
Nationally, year-over-year, May 2010 sales were down 15% compared to May, 2009. Charlotte showed a rise in sales of 18% during that same time. Showings in Charlotte did however, decrease dramatically during June; statistics are pending as to the ratio of 'typical' summer showing-slowing vs. economically impacted showings. 
