This week our listings saw an average of 1.8 showings each. Traffic has slowed in our office since the expiration of the tax credit, but it seems that things are starting to pick up again, slightly. Its definitely too soon to tell however, because the surge of pre-April 30 contracts has slowed.
For the longer term however, there were some recent news stories this week that should have some positive impacts on our local real estate market. Many thanks to the fans of this blog for taking the time to send me these links. Sometimes I wonder whether my consistent efforts are being read and its always very reassuring to get comments and links from fans. I always welcome comments, ideas and links. Please keep them coming!
On Monday, Money magazine published this article about Decreased Inventories on the West Coast. The article explains that nationally, housing supply is down to eight months. That number still equals a buyers market; it is considered a balanced market when supply equals six months. However on the west coast, there are many areas that have actually crossed into the realm of seller’s market where supplies have fallen to well below the six month range. In San Francisco, the article claims that supply is at just above three months.
I don’t like to generalize about the “national” real estate market. There really is no “national” real estate market because each is unique and all real estate is about location. But if prior trends are accurate, the changes taking place out west is good news for Charlotte. Through good times and bad in real estate, the Charlotte market has lagged the west coast and usually to a lesser degree. Its almost like a tsunami that starts in California and then dissipates as it makes its way to Charlotte.
Another great link that was sent to me this week, was from Relocate America where their 2010 List of the Top 100 Places to Live and Charlotte made the cut. That should come as no suprise to those of us that live (and love it) here. But its nice to be recognized nationally and it always helps outsiders that might be on the fence about where to make their next move.
Next week our monthly E-newsletter will be published and we’ll report the April Charlotte stats. Stay tuned to find out what’s happening.