Buyer Fatigue: Fact or Fiction in the Charlotte Real Estate Market?
CHARLOTTE, North Carolina. – According to data from the North Carolina Realtors Association, house price increases in Charlotte are moderating and increasing at a slower rate. The average home selling price at the end of August was up about 13%, while at the end of the summer around the same time last year it was up 18%. 3%. Mickey Gold, Coldwell Bank’s broker, explains that this is in part due to buyer fatigue, people bid after bid, and relentless rejection.
“It got to the point where you can be rejected so many times; you just say you know i have enough to be able to live here for another year; let me see what spring brings, ”Gold says.
Data also shows that the number of homes for sale in Charlotte is down 22% from August of last year. This means that it is even more difficult to find something to buy.
“I think what you see with a slowdown in buyer activity is potentially pressure from low inventory,” says Maren Brisson-Kuester, COO at HM Properties.
Brisson-Kuester says she thinks the Charlotte market won’t change anytime soon.
“With people moving here every day and continuing to want to move their corporate entities here, there probably isn’t a downturn going forward anytime soon. “