The housing shortage may be turning, warning of a price bubble

CNBC | 5/17/2007 | Diana Olick
k.collazi (Posted by) Level 3
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The disparity is even more striking in Charlotte, North Carolina, a very hot market fueled by big job growth and an influx of retiring baby boomers. Home sales fell nearly 12 percent in June annually but the median price of a home sold was still nearly 3 percent higher, according to the Charlotte Regional Realtor Association. Homes were also selling, on average, eight days faster than a year ago.

“Even though the Charlotte region is wedged into a solid seller’s market, incredibly low supply coupled with higher prices and rising mortgage rates are presenting challenges to buyers,” wrote 2018 Charlotte Regional Realtor Association/CarolinaMLS President Jason Gentry in a release. “However, home sales are still occurring across the region, as buyers continue to seek homes outside Charlotte’s city limits.”

Inventory - Charlotte - Percent - Year - Supplies

Inventory in Charlotte did rise 1 percent compared with a year ago, but supplies...
(Excerpt) Read more at: CNBC
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