For Week Ending February 12, 2022 (Data current as of February 21, 2022)
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.69% the week ending February 10, up 14 basis points from a week earlier and a full point higher than the record low of 2.65% at the beginning of 2021. Rising interest rates and increasing housing prices continue to impact affordability, and buyer sentiment is softening as a result, with the mortgage application Purchase Index falling 7% from the same week last year, according to the Mortgage Bankers Association.
In the Charlotte region, for the week ending February 12:
- New Listings decreased 13.4% to 1,016
- Pending Sales increased 0.4% to 1,140
- Inventory decreased 41.0% to 2,605
For the month of January:
- Median Sales Price increased 22.8% to $350,000
- List to Close decreased 1.2% to 83
- Percent of Original List Price Received increased 1.2% to 100.1%
- Months Supply of Homes for Sale decreased 40.0% to 0.6
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 3.875% – 4.125%
- 15 Year Fixed – 3.250% – 3.750%
- FHA/VA/USDA – 3.625% – 4.000%
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 February 21, 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.