For Week Ending April 16, 2022 (Data current as of April 25, 2022)
According to Freddie Mac, rising mortgage interest rates are taking a toll on borrowers, having increased more than 1.5 points since the beginning of the year, the fastest three-month rate increase since 1994. The recent surge in mortgage rates has caused a decline in mortgage demand, with the Mortgage Bankers Association (MBA) reporting the Refinance Index is down 62% compared to a year ago. In comparison, the unadjusted Purchase Index is 6% lower compared to this time last year.
In the Charlotte region, for the week ending April 16:
- New Listings decreased 11.4% to 1,155
- Pending Sales increased 8.0% to 1,280
- Inventory decreased 32.5% to 2,733
For the month of March:
- Median Sales Price increased 20.3% to $369,144
- List to Close decreased 2.5% to 77
- Percent of Original List Price Received increased 1.8% to 101.9%
- Months Supply of Homes for Sale decreased 25.0% to 0.6
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 5.250% – 5.625%
- 15 Year Fixed – 4.500% – 4.999%
- FHA/VA/USDA – 5.125% – 5.750%
You’ve worked hard for what you’ve earned, and you’re right to want the best experience. With ROI-based updates, highly targeted pre-listing marketing, and a systematized approach, you can rest easy knowing you are in good hands.
If you are thinking about selling your home in the next 6 months, call me today for your strategic marketing consultation. 708.995.7444
Local Data and content were obtained from CanopyMLS and Current as of April 25, 2022. Data is refreshed regularly to capture changes in the market activity. The Charlotte Region Report includes Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanley, and Union Counties in North Carolina and Chester, Chesterfield, Lancaster, and York Counties in South Carolina.