Charlotte’s Hot Housing Market Likely Won’t Cool in Winter
While winter is typically a slow season in the Charlotte housing market, economists predict winter 2020 is likely to be atypical. Lawrence Yun, chief economist of the National Association of REALTORS®, says “It will be one of the best winter sales years ever.”
Low inventory levels combined with high demand due to historically low mortgage rates, is sending buyers to the market in a large numbers. Many home buyers are looking to upsize their homes as they work from home as well as having their children attending school from home. As remote work remains an option for many and some employers make it a permanent situation for office workers, some homebuyers are looking to the suburbs to spread out and find larger homes that offer greater affordability.
According to Realtor.com, we are expecting to see an extended home purchase season this year that will stretch well into 2021. As more inventory hits the market, buyers are still pressed to tour fewer homes that fit their criteria and make increasingly strong(er) Offers in order to land their dream home. There is often no time to wait and in certain price ranges, we are seeing more and more multiple Offer situations in the Charlotte region.
Thinking of buying or selling real property in the Charlotte Metro region? Let’s talk! Call or text (704) 491-3310 today.Hiring the right Charlotte Realtor® is key to your home buying success.
© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Charlotte’s Hot Housing Market Likely Won’t Cool in Winter
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