As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.
New Listings were up in the Charlotte region 2.7 percent to 4,150. Pending Sales increased 26.4 percent to 3,984. Inventory shrank 23.1 percent to 10,570 units.
All data from CarolinaMLS. Report provided by the Charlotte Regional REALTOR® Association