November Update: Housing & Finance Edition Charlotte NC

[Kai Kopsch]

New Listings were up in the Charlotte region by 3.5 percent to 3,484. Pending Sales increased 3.9 percent to 2,765. Inventory shrank 14.8 percent to 6,526. Prices moved lower as Median Sales Price was down 0.8 percent to $379,900. Months Supply of Homes for Sale remained flat at 1.9 months, indicating a stabilizing supplydemand balance. (Based on information from Canopy MLS for the period 11.2023)

Consumer confidence has gone up this November. Americans are now more optimistic about the economy than they are about finding a parking spot at the mall during the holiday season.

Jobless claims are lower than expected and close to historic lows. The job market is still holding on like a cat on a screen door.

Investors are betting on the Fed cutting rates in March, with plans for 6 more cuts next year. It's like a financial version of a six-pack, but with less abs and more interest.

Falling mortgage rates and a promising housing market have given a much-needed boost to builder confidence, reversing a 4-month decline. It's like a construction-themed version of "The Little Engine That Could."

Housing starts unexpectedly rose to a 6-month high in November. Builders are working at a pace that would make even Santa's elves jealous.

Existing home sales went up 0.8% in

November, bouncing back from a 13-year low. The median home price grew 4%, making us wonder if we should start investing in gingerbread houses.

Stay tuned for more updates