16 Sep Monday Charlotte Real Estate Review
As we make our way into fall, Charlotte, North Carolina can expect to remain in a seller’s market but will most likely start to see higher interest rates, increased housing inventory, increased property value, and more new construction. Rising interest rates and many projected construction projects will begin to make an impact on the real estate market in the coming months.
The Charlotte housing market continues its steady rebound as mortgage rates didn’t change in the last week but still remain near their highest point of the year. Freddie Mac reported a 30-year fixed mortgage held at 4.57% in the past week, while a 15-year fixed mortgage remained at 3.59%. In the Charlotte area, the average home price rose 11.1% last month. The last time the Charlotte area saw a double-digit change in home prices it was in the wrong direction – when the average sales price fell 10.3% in November 2011.
Charlotte homebuyers are still heavily pursuing the current market as rates increase and home value and prices continue to rise. The market remains steady but boasts a great recovery. To keep up to date on what is happening in the Charlotte area or to put your best foot forward when looking to buy a home, not only is Fairway always there to answer any and all questions, but The Allen Tate Mooresville/Lake Norman office is there to help too. This office recently hosted a first-time homebuyers workshop to address topics such as the home buying process; variety of loan programs; the difference between pre-qualifying and pre-approval and more.
Fairway never stops working for you to guarantee that not only will you receive the best offer we can secure, but also that you find the entire process stress free so that you can wholly enjoy your new home! Let Fairway Independent Mortgage of the Carolinas help you too! If you are interested in selling your home or purchasing a new one, fill out an online application today and speak to a mortgage specialist!