Charlotte home sales falling faster than nation’s (transplants, real estate)

[SunnyKayak]

The Charlotte-area housing slump continues, with second-quarter sales declining more than national rates.

Charlotte Observer | 07/25/2008 | Area home sales fall faster than nation's

[lovesMountains]

Originally Posted by SunnyKayak

The Charlotte-area housing slump continues, with second-quarter sales declining more than national rates.

Charlotte Observer | 07/25/2008 | Area home sales fall faster than nation's

Sunny, the title of the article is misleading I think.

For a better understanding of the housing market in Charlotte, read this editorial instead:

Charlotte Observer | 07/25/2008 | No reason for fear about Charlotte housing market

[Hoagie58]

You would expect exactly this to happen. All of the people that would be moving here are stuck in houses in oher cities. Once other markets loosen up a little, I suspect Charlotte will recover quickly.

[CouponJack]

Originally Posted by lovesMountains

Sunny, the title of the article is misleading I think.

For a better understanding of the housing market in Charlotte, read this editorial instead:

Charlotte Observer | 07/25/2008 | No reason for fear about Charlotte housing market

The editoral from this person is extremely bias. Did you look at her views? Here's an interview w/her from '06. She's against curbing growth (ie moratoriums in Union County). No one would expect her to be anything but positive (just like the NAR). She's worked for Crossland, Pulte, & now she owns a consulting company that advises developers....

Regulations threaten affordable housing: Knotts - Charlotte Business Journal:

Hoagie hit the nail on the head. The slowdown started here, after the major markets for transplants started slowing (around end of '05 to '06). No transplants selling their homes, the result is not much selling/buying here. One does not need a real estate license to figure this out.

The Charlotte resi market will not pick up in sales until way after major markets start improving, period. Major transplant markets up north (& out west) are still extremely soft, and bottoms have not been reached up there yet.

I've been beating this drum for a while......get used to these economic conditions for a long time.

[berryjuice4life]

Originally Posted by couponjack

the editoral from this person is extremely bias. Did you look at her views? Here's an interview w/her from '06. She's against curbing growth (ie moratoriums in union county). No one would expect her to be anything but positive (just like the nar). She's worked for crossland, pulte, & now she owns a consulting company that advises developers....

regulations threaten affordable housing: Knotts - charlotte business journal:

hoagie hit the nail on the head. The slowdown started here, after the major markets for transplants started slowing (around end of '05 to '06). No transplants selling their homes, the result is not much selling/buying here. One does not need a real estate license to figure this out...
The charlotte resi market will not pick up in sales until way after major markets start improving, period. Major transplant markets up north (& out west) are still extremely soft and bottoms have not been reached up there yet.

I've been beating this drum for a while......get used to these conditions for a long time.

ita....

[himain]

In my brand new community, 4 homes just sold in the past 3 weeks. All from out of state buyers and all closing in August.

[anifani821]

We need to sell inventory homes, tho. And that is a double-edged sword. I would like to see a moratorium on building so people would be forced to buy inventory homes, but the minute you do that . . . you put construction workers out of a job.

No easy answer.

[himain]

These are inventory homes that were sold but two are at the end stages. The other one was an inventory home and the last one is in the middle of being built. That only leaves 2 inventory homes left to be purchased and the other 8 are in the process of being built right now.

[Hoagie58]

Originally Posted by himain

These are inventory homes that were sold but two are at the end stages. The other one was an inventory home and the last one is in the middle of being built. That only leaves 2 inventory homes left to be purchased and the other 8 are in the process of being built right now.

I suspect this is the exception, rather than the rule in other Charlotte area developments..

[anifani821]

Originally Posted by himain

These are inventory homes that were sold but two are at the end stages. The other one was an inventory home and the last one is in the middle of being built. That only leaves 2 inventory homes left to be purchased and the other 8 are in the process of being built right now.

Well, you moved into a new community in an area that is not over-developed. I was referring to subdivisions <4 years old, w/ re-sales now listed. . . and w/ new construction going on nearby or in the same subdivision . . .