I had a buyer recently decide to put their home purchase on hold until January. Not because they stopped wanting to buy, but because with mortgage rates moving higher again, they wanted to save more and give themselves a little more breathing room.
I think that says a lot about what we are seeing in the Charlotte market right now.
Buyers are still out there, but many are being more cautious, taking longer to make decisions and paying closer attention to their monthly payment. The September numbers reflect that hesitation, with closed sales down 10.1% from last year and homes taking a little longer to sell.
At the same time, prices have remained fairly steady, with the average sales price up 1.7% year over year.
My takeaway? This is becoming a more patient market.
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