October 2013

Quoting directly from the Charlotte Regional Realtor Association Weekly Market Activity Report for week ending October 12, 2013:
“As tricks and treats are planned, housing starts its preparation for a holiday season hibernation. Though activity hasn’t come to a complete halt- there are still year – over- year gains being posted for listings, sales and prices- the liveliness of the summer months has started to slow. Keep watch on any movements from the Fed, on economic indicators outside of housing and on the legislative tug-of-war. Each may play a part in predicting how the rest of the fourth quarter of 2013 goes.”
Its common at this time of the year for Buyers to become distracted by holiday festivities, and for real estate agents and developers to start to look toward 2014. All trends remain positive for an exceptional Spring 2014. With that strong bias, we continue to evaluate opportunities.
Sales and pricing have continued to improve in 2013, so looking ahead our focus is on Months Supply of Inventory. Over the last 12 month period inventory has shrunk 35.2% from an average of 9.1 months supply to 5.9 months; by the end of September current activity found only 5.6 months of available inventory a 23.8% improvement over the supply one year before. I believe this points to opportunity for new construction……so stay tuned for an exciting announcement!