August Charlotte Market Update
Summer 2022 has been a season of change for the U.S. real estate market. Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months of supply at the start of August. The pullback in demand has been particularly hard on homebuilders, causing new-home sales and construction to slow.
August Lake Norman Market Update
“The current level of buyer activity our market has been experiencing this summer is similar to buyer activity we saw during the summer of 2019, which was actually a more sustainable market, said Lee Allen, Canopy Realtor® Association/Canopy MLS president. “When considering the rapid pace of the market and severe inventory challenges that made the market extremely competitive in 2021, I think we will conclude that 2021 was an unusual year and definitely doesn’t reflect a healthy sustainable market, and certainly not one we can compare today’s activity to.”
August Market report and information provided by THE CANOPY REALTOR® ASSOCIATION