Charlotte Regional Realtor Association reports January data on housing market - Charlotte Business Journal

Charlotte Regional Realtor Association reports January data on housing market - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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Home sales in the Charlotte region climbed 8.8 percent in January from a year ago, according to the Charlotte Regional Realtor Association.

The association reported Tuesday thatCarolina Multiple Listing Service figures show 2,359 homes were sold in the region last month, up from 2,169 sold in January 2014.

However, sales activity in the market was slower last month than in December, whenlocal home sales jumped 15.7 percent from a year earlier.

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And on a month-to-month basis, home sales were down 22.7 percent in January from December.

The average sales price last month was $223,505, rising 3 percent from a year earlier, while the median sales price was $175,000, an increase of 4.4 percent.

Pending sales for the month totaled 3,266, soaring 31.8 percent from a year earlier.

"Demand for homes across the region continues to be strong; however, inventory remains challenged," said Maren Brisson-Kuester, 2015 president of the association and CarolinaMLS. "With properties experiencing shorter days on market, today's buyers are seeing signs of a solid seller's market which will probably persist through spring."

The Charlotte market's housing inventory declined 5.3 percent in January from a year earlier, leaving the region with a four-month supply of homes for sale. A housing supply of six months is generally considered a balanced market between buyers and sellers.

On average, homes sold last month had been listed 141 days and fetched 93.6 percent of the original list price.

CoreLogic reports Charlotte home prices up 4.1% in December - Charlotte Business Journal

CoreLogic reports Charlotte home prices up 4.1% in December - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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Home-price appreciation in the Charlotte market accelerated in December, according to the latest CoreLogic Home Price Index report.

Prices in the Charlotte-Concord-Gastonia metro area were up 4.1 percent in December from a year earlier, the report released Tuesday shows.

That figure, which includes distressed sales such as short sales and real estate-owned transactions, compares with a rise of 3.6 percent in November and follows months of slowing growth in local home prices.

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Excluding distressed transactions, prices in the Charlotte market showed an annual increase of 3.4 percent in December.

North Carolina's statewide growth in home prices — up 2.3 percent in December from a year earlier, with or without distressed sales factored in — was level with November's annual return.

CoreLogic Inc. (NYSE:CLGX) reports that nationwide, including distressed sales, home prices rose 5 percent in December from a year earlier, marking the 34th consecutive month of year-over-year increases.

Excluding distressed sales, home prices were up 4.9 percent nationwide.

Nationally, home-price appreciation took a pause in November and December 2014 and we expect a slow start to 2015," Anand Nallathambi, president and CEO of the California-based data firm, said in Tuesday's report. "As the year progresses, we expect upward pressure as low inventories and more first-time buyers drive up home prices."

Charlotte-area home sales up 15.7% in December - Charlotte Business Journal

Charlotte-area home sales up 15.7% in December - Charlotte Business Journal

David Harris

Managing Editor-Charlotte Business Journal

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Home sales in the Charlotte region jumped 15.7 percent in December from a year ago, according to the Charlotte Regional Realtor Association. That helped push local home sales for the year 4.8 percent higher than the total for 2013, the association says.

Carolina Multiple Listing Service figures show that 3,050 homes were sold in the region last month, up from 2,635 sold in December 2013.

The average sales price last month was $229,437, rising 2.4 percent from a year earlier. The median sales price last month was $180,000, an increase of 4.3 percent from December 2013.

See Also

• Charlotte-area home prices rise, but at slower pace

Pending sales last month totaled 2,430, a jump of 28.5 percent from a year earlier.

However, the market's housing inventory declined 14.2 percent in December from a year earlier, leaving the region with a 4.1-month supply of homes for sale. A housing supply of six months is generally considered a balanced market between buyers and sellers.

For the year, 36,191 were sold in the Charlotte region, increasing from the market's 34,525 closings in 2013.

The average sales price in 2014 was $231,308, up 4.1 percent from the 2013 average. The median sales price last year was $180,000, an increase of 4.5 percent from 2013.

"At the beginning of 2014 inventory was pinched and buyers were facing new mortgage rules, but that did not put a damper on last year's sales," Maren Brisson-Kuester, president of the association and the CarolinaMLS, said in a news release Thursday morning. "Though low inventory, seller confidence and higher mortgage rates could be factors in 2015, demand continues to be strong while price gains continue to moderate. With more financing options and programs available to first-time home buyers, along with rising rents and a strengthening local economy, we expect to see more buyers come to the market."

Case-Shiller index: Charlotte back in line with slowing growth in home prices - Charlotte Business Journal

Case-Shiller index: Charlotte back in line with slowing growth in home prices - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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A months-long trend of diminishing gains in home prices across the nation continued in October, with Charlotte market falling back in line after standing out from the crowd in the previous month, according to the latest Standard & Poor's Case-Shiller Home Price Index.

Home prices in the Charlotte metro area were up 2.8 percent in October from a year earlier, the report released Tuesday shows. That's down from a 3.3 percent rise for the year ended in September, but is still higher than the 2.5 percent year-over-year gain reported in August.

Though the widespread trend of slowing annual growth in home prices in cities tracked by the Case-Shiller index is ongoing, this week's report offers an optimistic outlook for the year to come.

See Also

• View the S&P/Case-Shiller Home Price Indices report for October

"After a long period when home prices rose, but at a slower pace with each passing month, we are seeing hints that prices could end 2014 on a strong note and accelerate into 2015," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in the report. "Two months ago, all 20 cities were experiencing weakening annual price increases. Last month, 18 experienced weakness. This time, 12 cities had weaker annual price growth, but eight saw the pace of price gains pick up."

Charlotte was among the two standouts posting higher yearly returns in September.

The S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, logged a yearly gain of 4.6 percent in October, compared with a 4.8 percent increase in September.

The index also tracks composites of the nation's top 10 and top 20 markets, with October's report showing year-over-year increases of 4.4 percent and 4.5 percent, respectively — both smaller returns than those posted in the previous month.

On a month-to-month basis, the Charlotte market posted a slight decline of 0.2 percent in October, swinging from an increase of 0.6 percent in September. However, on a seasonally adjusted basis, all 20 cities had higher prices than a month ago, Blitzer noted.

The national index also posted a monthly decline of 0.2 percent in October. Both composites were down 0.1 percent from the previous month.

Charlotte among fastest-growing big cities in U.S., new Census info shows - Charlotte Business Journal

Charlotte among fastest-growing big cities in U.S., new Census info shows - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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It should come as no surprise to those who've seen the influx of people and businesses in Charlotte in the past decade, even during the down years. The Queen City ranks No. 2 among the fastest-growing big cities in the United States, according to data released Thursday by the U.S. Census Bureau.

The new data, from the 2013 five-year American Community Survey, shows Charlotte with an estimated population of 757,278. That's a 40 percent increase over the city's population of 540,828 recorded during the 2000 census.

Big cities are defined as those that had populations of more than 500,000 at the time of the 2000 census. In that category, Fort Worth, Texas, ranks as the fastest-growing, with a 42.3 percent rise in population. Following second-place Charlotte are three more Texas cities: Austin, with 27.5 percent growth; San Antonio, 18.7 percent; and El Paso, 17.2 percent.

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• How 'deeply rooted' is your town? N.C. cities by share of residents born in state (SLIDESHOW)
• Charlotte rides population surge to No. 16 among biggest U.S. cities

On a percentage basis, Raleigh continues to outpace Charlotte, topping the growth charts for midsized and larger cities — those with more than 250,000 residents in 2000 — with a 50.1 percent increase in population. The number of residents in Raleigh totaled an estimated 414,530 in 2013, up from 276,093.

No other North Carolina cities fall into those categories, though Greensboro would fit with the midsized-and-larger group if it were based on the latest estimates — since the 2000 census, that city has grown to a population of 273,228.

Here's a look at how some of the state's bigger metro areas have fared:

• Winston-Salem, 25 percent growth since the turn of the century.
• Durham, 25.6 percent.
• Greensboro, 22 percent.
• Wilmington, 43.1 percent.
• Asheville, 23.2 percent.

In the Charlotte region, the swelling number of residents has not been limited to the city's limits. A number of smaller towns in the area have experienced major population booms as well:

• Indian Trail ranks No. 14 on the overall list with a whopping 186.8 percent population increase.
• Cornelius has seen its population grow 113.7 percent since 2000.
• Huntersville experienced a 92.4 percent increase.
• Mooresville has grown by 79.6 percent.
• Mint Hill's population expanded by 56.7 percent.
• And Concord saw growth of 44.2 percent.

Case-Shiller index: Charlotte bucks trend of widespread slowdown in home-price gains - Charlotte Business Journal

Case-Shiller index: Charlotte bucks trend of widespread slowdown in home-price gains - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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Bucking a nationwide trend of diminishing gains in home prices, Charlotte was one of only two cities tracked by a prominent monthly index to post larger annual gains in September than in August.

Home prices in the Charlotte metro were up 3.3 percent in September from a year earlier, according to the latest Standard & Poor's Case-Shiller Home Price Index. That follows a 2.5 percent rise for the year ended in August, but still falls short of the 3.6 percent year-over-year gain reported in July.

Of the 20 major U.S. metros tracked by the Case-Shiller index, Dallas was the only other city to see an acceleration in home-price increases in September.

See Also

• View the S&P/Case-Shiller Home Price Indices report for September

On a month-to-month basis, the Charlotte market posted an increase of 0.6 percent in September, swinging from a slight decline of 0.1 percent in August from July's levels. The local market also stood out by that measure, joining Miami in having the strongest monthly gains among the cities tracked.

"The overall trend in home price increases continues to slow down," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in the report released Tuesday. "The National Index reported a month-over-month decrease for the first time since November 2013. ... The only region showing any sustained strength is the Southeast led by Florida; price gains are also evident in Atlanta and Charlotte."

The S&P/Case-Shiller U.S. National Home Price Index logged a yearly gain of 4.8 percent in September, compared with a 5.1 percent annual gain in August. And on a monthly basis, the national index posted a decline of 0.1 percent in September.

The index also tracks composites of the nation's top 10 and top 20 markets, with the latest report showing year-over-year increases of 4.8 percent and 4.9 percent, respectively. Both composites were flat in September from the previous month.

However, Bitzer points to other measures as evidence that things are looking up for next year: "Other housing statistics paint a mixed to slightly positive picture," he said in the report. "Housing starts held above 1 million at annual rates on gains in single-family homes, sales of existing homes are gaining, builders' sentiment is improving, foreclosures continue to be worked off and mortgage default rates are at pre-crisis levels. With the economy looking better than a year ago, the housing outlook for 2015 is stable to slightly better."

As of September, nationwide home prices were on par with fall 2004 levels, according to the Case-Shiller report.

Charlotte-area home sales increase 13.3% in October | CharlotteObserver.com

Charlotte-area home sales increase 13.3% in October | CharlotteObserver.com

By Deon Roberts
deroberts@charlotteobserver.com

Posted: Monday, Nov. 10, 2014

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Charlotte-area home sales rose 13.3 percent in October from the same month last year, as declining supplies of properties on the market showed no signs of letting up.

There were 3,210 closings posted in the month, an increase of 378 from October of last year, according to an existing-home report released Monday from the Charlotte Regional Realtor Association.

The association said sales this year are on track to outpace last year’s. Sales so far this year are up nearly 4 percent compared with the same period last year.

The improvement comes as sales of existing homes nationwide are strengthening after a slow start to the year. On Friday, the chief economist for the National Association of Realtors said home sales are showing stronger growth thanks to pent-up demand, slower gains in prices and increases in inventory.

Inventory is still tight in the Charlotte region, which is contributing to rising prices. The amount of homes for sale fell to a 4.8-month supply in October, the second-lowest level all year behind January’s 4.7 months.

A widely accepted definition of a balanced market is one with a six-month supply. Charlotte has remained below that level since November 2012.

Joe Rempson, president of the Charlotte Regional Realtor Association, said demand for homes in the Charlotte area has persisted throughout 2014.

“However, inventory continues to be a challenge, and buyers may face limited choices since inventory generally falls as we enter the holidays,” he said.

Sales fell 1.3 percent compared to September.

The average sales price in October rose to $228,080, an increase of 8.5 percent from a year ago.

The Realtors report is based on activity in a roughly 18-county region. It generally does not include sales of new homes.

Read more here: http://www.charlotteobserver.com/2014/11/10/5305286/charlotte-area-home-sales-increase.html#storylink=cpy