- Jen Wilson
- Associate Editor/Online-Charlotte Business Journal
- Email | Twitter | Google+
Charlotte is among a handful of markets showing signs of strong home sales in the third quarter, in contrast with more moderate gains in the national housing market, Realtor.com said Wednesday.
“For the last two years, listing shortages constrained home sales and frustrated buyer demand,” Jonathan Smoke, chief economist for Realtor.com, said in a news release accompanying the website's June National Housing Trend Report. “Our June data shows monthly inventory picking up in markets already experiencing price increases and fast property turnover. These dynamics will result in strong home sales and extend the buying season past the usual June/July peak to later in the third quarter.”
Homes in the Charlotte-Gastonia-Rock Hill metro area are selling 14 days faster than at this time a year ago — the most improved median inventory age among the 10 markets highlighted, according to the release.
The Charlotte Regional Realtor Association, one of several sources of housing data followed by the Charlotte Business Journal, reported that June saw a rebound in home sales and a continued rise in home prices following an annual decline in the number of properties sold in May.
However, the June report from CoreLogic Inc. (NYSE:CLGX) showed smaller gains in home prices than those posted in recent months. The Case-Shiller Home Price Index for June has net yet been released, but that report found Charlotte to be an exception to slowing home-price appreciation in May.
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