We are in the thick of an exciting period of home buying and selling, often with quick multiple offers that are near, at or even above asking price, depending on the factors of the home and submarket in question. It was widely predicted that we would see healthy sales activity during the second quarter of 2016 after a mildly sluggish first quarter, and the market has not disappointed.

New Listings were up in the Charlotte region 4.5 percent to 5,637. Pending Sales increased 21.0 percent to 4,989. Inventory shrank 25.4 percent to 10,880 units. Prices moved higher as Median Sales Price was up 5.0 percent to $209,900. Months Supply of Homes for Sale was down 31.8 percent to 3.0 months, indicating that demand increased relative to supply.

Although inventory is still being stretched thin in many areas, low mortgage rates coupled with higher wages have built a relatively sturdy housing marketplace. How long that can continue without fresh supply remains an important question, but conditions are seemingly good enough for serious buyers. With the current state of new construction for non-rental households, the road ahead could be tricky if demand remains high.

The housing market is being predictable, and that’s a good thing. At the beginning of the year, it was anticipated that the prevailing trends of the past year would continue into and through 2016, and that has largely been the case. The number of homes for sale has generally remained lower compared to a year ago, and prices have been steadily rising in desirable communities where homes show well.

New Listings in the Charlotte region increased 2.6 percent to 5,721. Pending Sales were up 21.1 percent to 5,160. Inventory levels fell 26.6 percent to 10,513 units. Prices continued to gain traction. The Median Sales Price increased 6.3 percent to $202,000. List to Close was down 4.2 percent to 113 days. Sellers were encouraged as Months Supply of Homes for Sale was down 34.1 percent to 2.9 months.

There have been no striking changes to curtail what should be a decent run of home sales over the next several months. Mortgage rates have remained stubbornly and wonderfully low, the unemployment rate has remained at or near 5.0 percent for eight straight months and wages have increased for a great many people. New construction has been slow, and that may be a damper on sales, but the general outlook remains strong.

Negative housing headlines should be read with calm or skepticism, not alarm. National housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary. Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated, not feared.

New Listings in the Charlotte region decreased 0.2 percent to 5,582. Pending Sales were up 20.0 percent to 4,864. Inventory levels fell 27.8 percent to 10,145 units.

Prices continued to gain traction. The Median Sales Price increased 3.7 percent to $198,000. List to Close was down 5.4 percent to 122 days. Sellers were encouraged as Months Supply of Homes for Sale was down 36.4 percent to 2.8 months.

Employment figures are positive, wages are going up and employers are hiring. Consumers are holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. But if inventory stays low, it will be difficult to sustain sales increases in year-over-year comparisons. Prices are seemingly not so high as to stall the market completely. Demand is present but an abundance of choice is not, and therein lies the rub.

The primary story, both nationally and in local submarkets, is a dwindling months’ supply of inventory. The cure, of course, is more inventory. But new construction has been lagging during this opportune moment, and sellers of existing homes are not yet hitting the market in droves. The heart of the selling season has yet to begin, so we’re still optimistically watching for an increase in activity in the coming months.

New Listings in the Charlotte region decreased 0.2 percent to 3,993. Pending Sales were up 22.2 percent to 3,814. Inventory levels fell 26.4 percent to 9,935 units.

Prices continued to gain traction. The Median Sales Price increased 2.2 percent to $182,000. List to Close was down 3.8 percent to 126 days. Sellers were encouraged as Months Supply of Homes for Sale was down 34.9 percent to 2.8 months.

National housing starts were up by 10.8 percent at the end of 2015 when compared to 2014, and the unemployment rate is holding low and steady at or near 4.9 percent. Meanwhile, mortgage rates continue to astound below 4.0 percent and we have witnessed an unprecedented 70 consecutive months of private-sector job growth. As consumers navigate their options, competition for the best available properties should be profound, especially if the market remains hobbled by a lack of supply.

The natural ending point that is each December gives way every year to the optimism of January. This is particularly pronounced when the economy is strong and economists across the land are predicting increases in both prices and home sales. Granted, there has been some measured language surrounding the positive thinking. Although we are looking forward to a mostly decent year in real estate, it should be the kind of activity akin to a sure and steady life being lived rather than the jolt of a lottery win, which is just the way we want it.

New Listings in the Charlotte region decreased 5.9 percent to 3,733. Pending Sales were up 13.0 percent to 3,356. Inventory levels fell 23.9 percent to 10,350 units.

Prices continued to gain traction. The Median Sales Price increased 7.8 percent to $179,500. List to Close was down 7.6 percent to 121 days. Sellers were encouraged as Months Supply of Homes for Sale was down 31.8 percent to 3.0 months.

Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Unemployment is solidly about the same, housing metric trends are running about the same for now and the sunny outlook is still at about high noon. Same is the sound of 2016, so get curled up and comfy with the song, because we are likely to sing it a lot this year.