hope sales slipping in charlotte but there is still hope (home sales, to buy) - North Carolina (NC) - City-Data Forum

Weis02 · 10-18-2006, 04:28 PM

For the first time since 2003 - monthly home sales in the Charlotte area were down in September 2006.

(are we starting to see the effects in other areas now in charlotte??)

the entire article can be found at
http://www.charlotte.com/mld/charlotte/classifieds/real_estate/15784784.htm (broken link)

no one in the article appears to be too upset (for lack of a better word) and it remains to be seen if this will continue in upcoming months and into the new year

TBLTZ · 10-18-2006, 04:40 PM

Quote:

Originally Posted by Weis02

For the first time since 2003 - monthly home sales in the Charlotte area were down in September 2006.

(are we starting to see the effects in other areas now in charlotte??)

the entire article can be found at
http://www.charlotte.com/mld/charlotte/classifieds/real_estate/15784784.htm (broken link)

no one in the article appears to be too upset (for lack of a better word) and it remains to be seen if this will continue in upcoming months and into the new year

Home sales.... I was wondering what a "hope sale" was

Weis02 · 10-18-2006, 07:39 PM

lol - sorry - I can't edit the title -

lisaf · 10-18-2006, 08:38 PM

C'mon, they were only down 3% from last year, same time. Check out what's happening in Vegas, FL, NJ, NY from last year. Double digits damage.

Weis02 · 10-18-2006, 08:45 PM

Quote:

Originally Posted by lisaf

C'mon, they were only down 3% from last year, same time. Check out what's happening in Vegas, FL, NJ, NY from last year. Double digits damage.

that's the point lisa, due to the high values in these areas, many people wanting to leave and go to NC can't because they can't sell their homes. If they can't sell, they can't move, hence maybe (again maybe) this is why it is down.

I didn't say it was a big deal but I was wondering when the effects in these areas would effect NC, now again I agree this is just one month and 3% is not the biggest deal. I was just posting an FYI for those who may be interested.

lisaf · 10-18-2006, 09:00 PM

Quote:

Originally Posted by Weis02

that's the point lisa, due to the high values in these areas, many people wanting to leave and go to NC can't because they can't sell their homes. If they can't sell, they can't move, hence maybe (again maybe) this is why it is down.

I didn't say it was a big deal but I was wondering when the effects in these areas would effect NC, now again I agree this is just one month and 3% is not the biggest deal. I was just posting an FYI for those who may be interested.

gotcha!

Lord knows we don't want this place to get any more crowded than it is!!

Grappler · 10-19-2006, 08:00 AM

The market in Florida is definately a factor there. I was fortunate enough to sell before the market got really bad down here but my sister and parents weren't as fortunate. As a result, it seems like I'm making the move alone. Also, I've heard a lot of houses are falling through beause closing were contingent on the sale of homes in other markets that just aren't selling.

vpcats · 10-19-2006, 08:22 AM

OUUUUCCCHHHHH. Don't say that. I'm just beginning to look into moving to NC and I would have to sell my house in Miami first. Be positive. Things will bounce back and normalize, just won't be quick money making market anymore. What happened the last 5 yrs or so was a aberration. It had to happen but it was unsustainable.
In an attempt to prepare for my future, I've subscribed to the online Charlotte newspaper. I read that article about the drop in home sales, etc. And like they said.... September is always a bad month. New school terms, people just settling down again after summer breaks, etc. Many changes happening around this time. It will level out, as least for NC I think.

lukeb321 · 10-19-2006, 12:55 PM

No suprise here. Many people who have bought in NC in the past year either were lucky enough to sell thier house or had enough to buy before they sell. Markets all over the US are down and without people selling, people can not and will not buy. To be honest I'm suprised NC had this much growth in the past few months. I own a place in Ft. Lauderdale and my parents house is on Long island. There is such an abundance of houses in both those markets, its not even a thought to try to sell right now. Charlotte is still a bargain and will be for some time; especially that sales are down. I think a lot people on these boards hope/want for price and sales to go up since many of them are already there but reality is most people are just sitting, and thats why most houses I've saved on realtor.com and other RE sites are taking atleast 6-8 months to move.
It will be very intersting to see what happens in the next year or so !!!!

Cynamo · 10-19-2006, 03:45 PM

That's exactly what happened to me. My house has been on the market for 3 months in AZ. I can't buy in NC until mine sells here. Once the market picks up, watch out NC! I've been hearing tons about people looking into moving there. Sorry to contribute to the overcrowding, but not sorry enough not to move there.