Low Inventory Continues in Charlotte but, Easing Q2 2019
In March, 2010, Charlotte marked historically high inventory levels (13.9 month supply) and as the recession eased, inventory levels fell into a strong sellers’ market. Since 2015, Charlotte housing inventory has been less than a 3-month supply. In August, 2018, we were at an all-time low with a 2-month supply and in some parts of Charlotte, even lower than that.
This painfully low inventory level has been driving up competition (and prices) for real estate in markets all across the country as well. But it looks like 2019 is going to see that (finally!) begin to shift. While gains are expected to be modest, housing inventory is at least going to be heading in the right direction in the upcoming year.
According to Realtor.com’s 2019 Housing Forecast, national inventory increases are projected to hover right under 7% for 2019 (which is in stark contrast to last winter when inventory hit the lowest level in recorded history). Some types of properties will see more growth than others—while entry-level buyers will see only modest changes in inventory, higher-priced properties (and higher-priced markets) should see a more notable change in available inventory during 2019.
The Bottom Line
If you’ve been thinking about buying a home in Charlotte but haven’t been able to find one in this highly competitive market, it looks like things are finally starting to shift in your favor—and (hopefully!) finding a home this spring, 2019 is about to get a lot easier.
If you’re thinking about buying a home in Charlotte this spring, make sure you work with a qualified real estate professional. There’s a reason 9 out of 10 buyers partner with an agent or broker to find and purchase their dream home and I’d love to help you find yours.
Call or text (704) 491-3310 – let’s talk!
*References from any of our sellers are available upon request. Read our reviews www.CharlotteRealEstateAgentReviews.com.
© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Low Inventory Continues in Charlotte but, Easing Q2 2019