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.

In 2015, national residential real estate, by and large, had a good year. Supply and demand were healthy in an environment rife with low interest rates and improved employment. The Federal Reserve finally increased short-term rates in December, and more increases are expected in 2016. Housing markets have shown a willingness to accept this. Save for a few expensive outliers where low inventory and high prices have become the norm, a balanced market is anticipated for much of the country for the foreseeable future. Improved inventory and affordability remain key factors for continued optimism.

New Listings in the Charlotte region decreased 11.7 percent to 2,396. Pending Sales were up 14.1 percent to 2,540. Inventory levels fell 24.2 percent to 10,445 units.

Prices continued to gain traction. The Median Sales Price increased 2.8 percent to $190,000. List to Close was down 7.0 percent to 119 days. Sellers were encouraged as Months Supply of Homes for Sale was down 33.3 percent to 3.0 months.

Gross Domestic Product increased at an annual rate near 2.0 percent to close 2015, and that rate is expected to increase next year. Residential real estate is considered a healthy piece of the national economy. Contributing factors from within the industry include better lending standards and foreclosures falling back to more traditional levels. Declining unemployment, higher wages and low fuel prices have also conspired to improve personal budgets.

Residential real estate is experiencing its best year since the recession. Housing demand is healthy, and that is expected to continue until the end of the year. Home sales are actually set to have their best national showing since 2006. More of the same is anticipated in 2016, but inventory and affordability
challenges coupled with mortgage rate increases will likely keep any sort of monster growth in check. This should be a good thing for keeping home prices from increasing too rapidly to maintain economic stability.

New Listings in the Charlotte region decreased 4.7 percent to 3,042. Pending Sales were up 18.1 percent to 3,000. Inventory levels fell 22.5 percent to 11,666 units.

Prices continued to gain traction. The Median Sales Price increased 9.4 percent to $197,000. List to Close was down 7.3 percent to 115 days. Sellers were encouraged as Months Supply of Homes for Sale was down 34.0 percent to 3.3 months.

Unemployment rates across the nation changed little last month, which bodes well for an increase in buying activity. The national jobless rate was 5.0 percent in October, which was 0.7 percent lower than the year prior. Although housing and employment data are quite positive at this juncture, it is still certainly
possible for listings and sales to be down in year-over-year comparisons. Bad weather and the mix of housing available to buyers tend to have a greater effect on trends at the end of the year than during the midsummer months.

Transitory periods in the market are common this time of year, and after a persistent period of steady year-over-year climbs in sales metrics, recent low national numbers have not fulfilled what many predicted. But on a positive note, jobless claims have also been at low levels, coming in as the lowest number since 1973. As always, every market and situation is unique, so some numbers seen in national trends may not always line up with local markets.

New Listings in the Charlotte region decreased 3.1 percent to 3,998. Pending Sales were up 21.2 percent to 3,562. Inventory levels fell 21.6 percent to 12,375 units.

Prices continued to gain traction. The Median Sales Price increased 3.9 percent to $185,000. List to Close was down 8.2 percent to 112 days. Sellers were encouraged as Months Supply of Inventory was down 32.6 percent to 3.6 months.

Interest rates are an area to pay attention to as rate hikes are widely expected before the year ends. The Federal Reserve Bank has skipped two opportunities to raise rates this fall, but the final meeting in December will likely include a minor rate hike. Although we are headed into a slower time of year, as housing activity goes, there are still many nuggets of optimism to mine from monthly figures.

The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has
shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.

New Listings in the Charlotte region increased 3.2 percent to 4,319. Pending Sales were up 23.2 percent to 3,669. Inventory levels fell 21.7 percent to 12,795 units.

Prices continued to gain traction. The Median Sales Price increased 5.6 percent to $190,000. List to Close was down 10.5 percent to 111 days. Sellers were encouraged as Months Supply of Inventory was down 32.8 percent to 3.7 months.

With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen. It most likely will before year’s end. Until then, get out and enjoy the season.