Just before the holidays we noted spotted three items of interest to the real estate market that did not make front page new. Two of these things have implications for Charlotte Area real estate values. Both fall in line with upbeat news about the economy that permeated the airwaves. Holiday shopping was strong as consumer optimism peaked, despite the challenges in the retail sector.
The two stories that related to Charlotte Area real estate values stemmed from the periodic Home Price Index (HPI) report put out by researchers at CoreLogic. The report showed national single-family residential sales and home prices rising in October. This made it the fourth month in a row for 6%+ price rises—the longest such winning streak since June of 2014.
For real estate watchers in the Charlotte Area who are concerned that ongoing price increases might result in an over-inflated market situation, the HPI forecast offered reassuring news nationally. The HPI forecasted more price increases across the nation in the coming year, but at a more moderate and sustainable 4.2% rate. Both findings, the October rise, and the 2018 forecast were attributed to the limited supply of homes on the market coupled with a strengthening economy. Keep in mind, though, that these factors are based on National data and may not necessarily be specific to the Charlotte Area.
The third item was a feature in the Wall Street Journal’s real estate section. It didn’t have anything to do with Charlotte Area real estate values, yet it seemed season-appropriate.
The story noted an $8.3 million home for sale in Dedham, Massachusetts. The “classic shingle-decked three-story” house was sitting on roughly 22 acres. The home boasted seven bedrooms and baths, a wine cellar, a billiards room, and an ice hockey rink. Unfortunately, the Zamboni did not transfer despite the Zamboni garage.
But, perhaps that can be negotiated.
Ice hockey rinks aside, there are many affordable offerings on the market in the Charlotte Area. Search the latest listings at our website here: Charlotte Homes for Sale.
David Harkins is NC Real Estate Broker and REALTOR®. Before working in Real Estate, he had a fulfilling career in business consulting and marketing, advising both large and small companies including several in the Fortune 500 and many of America’s largest nonprofit organizations. In his spare time, he consults, speaks, writes, hikes, explores, and creates art. Although, not necessarily in that order.