flexiblefullpage - default
Currently Reading

Charlotte's 'New Normal'

Advertisement
billboard - default

Charlotte's 'New Normal'


March 18, 2019
Charlotte, N.C.'s real estate market is heating up, though new construction projects are not keeping up. In February, the market's new-home inventory level was found to be the lowest in a national study.
Photo: Unsplash/Wes Hicks

Charlotte, N.C.'s real estate market is heating up, though new construction projects are not keeping up. In February, the market's new-home inventory level was found to be the lowest in a national study.

In fact, according to Metrostudy's survey data, Charlotte's new-home inventory was found to be lower than sizzling market San Francisco. The inventory conditions have helped push up the average sale price 35 percent since 2014, per MLS data analysis by The Charlotte Observer. Richard Buttimer, director of the Childress Klein Center for Real Estate at UNC Charlotte, says people are staying in their homes longer, another supply headwind. “People who currently own homes know that it’s hard to find something else that they can afford,” Buttimer said. “So they don’t go out and put something on the market really until they’ve already secured something else.”

February saw a continuing trend of housing inventory near record-low levels, according to an analysis of data released this week by the Carolina Multiple Listing Services. For more than three years, the region has had around a 90-day supply of existing homes for sale. Experts say a balanced market should have around a six-month supply. Just five years ago, the region had a five-month supply.

Read more

Advertisement
leaderboard2 - default

Related Stories

Sustainability

Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings

Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency

Design

What Gen-Z Buyers Really Want in a Home

The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?

Building Materials

Lumber Leads Building Materials Prices Higher in March

Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.