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.

Home prices were up during summer across the nation in year-over-year comparisons. With the economy on full mend, Federal Reserve Chair Janet Yellen has predicted a fine-tuning of monetary policy before the year ends. In tandem with the improved economy, the unemployment rate for July 2015 remained at 5.3 percent for the second month in a row. It is widely believed that interest rates will go up before the year is over. Generally, this does not happen without careful consideration for the impact such a move will have on residential real estate.

New Listings in the Charlotte region increased 3.7 percent to 4,646. Pending Sales were up 26.5 percent to 4,077. Inventory levels fell 21.9 percent to 13,166 units.

Prices continued to gain traction. The Median Sales Price increased 7.8 percent to $200,000. List to Close was down 7.3 percent to 114 days. Sellers were encouraged as Months Supply of Inventory was down 33.3 percent to 3.8 months.

Statistics released by the U.S. Census Bureau and the Department of Housing and Urban Development indicate that privately-owned housing starts in July 2015 rose 10.1 percent compared to last year to the highest level the market has seen since October 2007. This bodes well for the eventual landing of a flock of potential buyers currently holding in a rental pattern. As ideal summer weather diverges toward autumn, we will begin to see some seasonal relaxation, but the market should still look positive when compared to last year.