Charlotte-area home prices up 3.6% | CharlotteObserver.com

Charlotte-area home prices up 3.6% | CharlotteObserver.com

By Deon Roberts
deroberts@charlotteobserver.com

Posted: Tuesday, Sep. 30, 2014

Charlotte-area home prices rose 3.6 percent in July from the same month last year, according to Standard & Poor’s/Case-Shiller data released Tuesday.

The report shows the pace of annual price gains continues to slow nationwide.

Nationally, home prices rose 6.7 percent in July from the same month a year ago, according to a composite index of 20 cities. That was down from an 8.1 percent annual gain posted in June.

Charlotte’s annual appreciation in July was flat compared with June’s.

“The broad-based deceleration in home prices continued in the most recent data,” David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.

Even as annual appreciation slows, U.S. cities are still posting sizable gains.

“Home prices continue to rise at two to three times the rate of inflation,” Blitzer said.

Read more here: http://www.charlotteobserver.com/2014/09/30/5210114/charlotte-area-home-prices-up.html#storylink=cpy

Forbes: Charlotte among top cities for attracting families - Charlotte Business Journal

Forbes: Charlotte among top cities for attracting families - Charlotte Business Journal

Rebecca Troyer

Managing Editor-Triangle Business Journal

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Charlotte ranks among the top cities in the U.S. for attracting families, but Raleigh placed even higher, according to a recent analysis by Forbes.

The rankings are based on demographic data on the increase in the number of children aged 5 to 14 and the number of children aged 5 to14 per capita.

"We picked this age range because it encompasses when parents often move due to such issues as school quality, the cost of housing and long-term economic security," Forbes says.

The top 10 "Baby Boomtowns" are as follows:

1. Raleigh

2. Austin, Texas

3. Las Vegas

4. Charlotte

5. Phoenix

6. Dallas-Fort Worth

7. Atlanta

8. Houston

9. Nashville, Tenn.

10. Orlando, Fla.

August heats up Charlotte-area home sales, prices - Charlotte Business Journal

August heats up Charlotte-area home sales, prices - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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Home sales in the Charlotte area in August rose 8.1 percent from a year earlier, while the average sale price increased 2 percent since August 2013, the Charlotte Regional Realtor Association reported Tuesday.

According to the association’s latest monthly activity report, 3,673 properties were sold last month in the market tracked by Carolina Multiple Listing Services Inc., up from 3,399 a year ago. However, compared with July’s figures, sales dipped 2.1 percent in August.

The average sale price was $242,121, and the median sale price was $185,500 — up 1.6 percent from last year. The average list price in August climbed 8.6 percent from a year earlier to $266,185, with homes fetching 94.7 percent of the original list price and remaining listed for 123 days, or nine fewer days than at this time last year.

See Also

• Mortgage rates aren’t budging; is this bringing buyers back into the market?
• Home builders' confidence in housing market up for third month in a row

Preliminary pending-sales counts for the month soared 29.9 percent, totaling 3,536. That’s up from 2,273 in August 2013.

“It’s encouraging to continue to see year-over-year increases in pending contracts, which show a strong demand for homes in our area,” Joe Rempson, association and CarolinaMLS president, said in a news release. “Much of this activity is due to the positive mix of housing conditions such as sustained job growth, low mortgage rates and a stable economy that our region is experiencing.”

New listings in the local market were down 4 percent from a year ago, while inventory declined 8.6 percent, leaving the region with a 5.2-month supply of homes for sale. A housing supply of six months is generally considered a balanced market between buyers and sellers.

In recent months’ reports, Rempson has noted that inventory challenges are likely to continue, driving prices higher.

The association also reported a decline in distressed activity, with foreclosures and short sales accounting for 5.1 percent of the sales closed last month, down from 9.2 percent a year ago.

Charlotte-area home prices up 3.8% | CharlotteObserver.com

Charlotte-area home prices up 3.8% | CharlotteObserver.com

By Deon Roberts
deroberts@charlotteobserver.com

Posted: Tuesday, Aug. 26, 2014

Charlotte-area home prices rose 3.8 percent in June from the same month last year, as appreciation continues to slow nationwide, according to the Standard & Poor’s/Case-Shiller report.

Prices nationwide rose 8.1 percent over the same period in a composite index of 20 cities, the report shows. Every city posted a slowdown in price gains on a year-over-year basis.

“Home price gains continue to ease as they have since last fall,” David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.

“For the first time since February 2008, all cities showed lower annual rates than the previous month. Other housing indicators – starts, existing home sales and builders’ sentiment – are positive. Taken together, these point to a more normal housing sector.”

Even as home prices continue to rise, they remain below peak levels hit before the housing downturn.

As of June, average home prices across the U.S. had returned to fall 2004 levels but were about 17 percent below summer of 2006 peaks.

Read more here: http://www.charlotteobserver.com/2014/08/26/5129934/charlotte-area-home-prices-up.html#storylink=cpy

Mortgage rates now at lowest level of the year - Charlotte Business Journal

And they said rates can't go any lower.  Maybe not but still the lowest of the year!!!



Mortgage rates now at lowest level of the year - Charlotte Business Journal

Jeff Clabaugh

Broadcast/Web Reporter-Washington Business Journal

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Long-term borrowing costs have remained in a holding pattern this year, with 30-year mortgage rates falling to the lowest level of the year this week.

Freddie Mac says the average rate on a 30-year fixed-rate mortgage fell to 4.12 percent in the week ending Aug. 14, matching the previous 2014 low. A year ago, 30-year rates averaged 4.40 percent.

A 15-year fix averaged 3.24 percent this week, down from 3.27 percent last week. A one-year adjustable rate mortgage averaged 2.36 percent, up from 2.35 percent.

Despite low rates, the Mortgage Bankers Association says mortgage applications fell to a six-year low last week.

New-home sales fell more than 8 percent in June. Contracts signed to buy existing homes were also lower.

While home values are largely still rising, the National Association of Realtors says price appreciation is now at the slowest pace since early 2012.

Realtor.com sees Charlotte as bright spot in Q3 sales indicators - Charlotte Business Journal

Realtor.com sees Charlotte as bright spot in Q3 sales indicators - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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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.

See Also

• CoreLogic finds smaller gains in Charlotte-area home prices in June

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.

CoreLogic finds smaller gains in Charlotte-area home prices in June - Charlotte Business Journal

CoreLogic finds smaller gains in Charlotte-area home prices in June - Charlotte Business Journal

Jen Wilson

Associate Editor/Online-Charlotte Business Journal

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The latest CoreLogic Home Price Index shows home prices in the Charlotte market, including distressed sales, were up 6.2 percent in June from a year earlier.

Home prices that month were up 1.4 percent from May in the Charlotte-Gastonia-Rock Hill metro area, according to the report released Tuesday by data and analytics firm CoreLogic Inc.

With distressed sales such as short sales and real estate-owned transactions removed from the calculation, the local area’s home prices were up 6.6 percent from a year ago and up 1.3 percent from the previous month.

See Also

• CoreLogic report finds Charlotte's foreclosure activity continuing to decline
• North Carolina has nation's 12th-highest mortgage closing costs

But while positive, those figures are less impressive than those posted in May, signaling an ongoing trend of slowing growth in home prices.

At the nationwide level, home prices logged a 28th consecutive month of gains, rising 7.5 percent in June from a year earlier with distressed sales included and 6.9 percent without those transactions, CoreLogic (NYSE:CLGX) says. The national monthly increases were 1.1 percent and 0.9 percent, respectively.

“Home price appreciation continued moderating in June with its slight month-over-month increase,” Mark Fleming, chief economist for the Irvine, Calif.-based firm, said in Tuesday’s report. “This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble.”

CoreLogic President and CEO Anand Nallathambi noted the rise in prices is being fueled by ongoing tight supply, low rates and aggressive investor buying on the coasts.

“The expected surge in the number of homes for sale has not materialized to date as many homeowners are staying put and waiting for better economic times and higher prices in the future,” Nallathambi said in the report.

CoreLogic predicts that growth in home prices will continue to slow in July, with prices including distressed sales climbing by 5.7 percent from a year earlier and by 0.7 percent from June. Excluding distressed sales, prices are expected to rise by 5 percent annually and by 0.6 percent monthly.