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Chief Economist for the National Association of Realtors Speaks to the Charlotte Regional Realtor Association

October 24, 2013 By admin Leave a Comment

IMG_3384Lawrence Yun, Chief Economist for the National Association of Realtors, spoke Wednesday to the Charlotte Regional Realtor Association. In his presentation he said the Charlotte area will continue to have a shortage of homes for sale this year and into the next; a trend that is expected nationwide. There is a 13-year low in housing inventory nationally and a 50-year low for new home inventory.

Charlotte home prices have risen about 10 percent from the bottom. A Wall Street Journal panel predicts a 5 percent home price increase in 2014, Yun said.

Yun predicts that mortgage rates could rise to 5.5 percent by fall of 2014. Cash transactions are one-third of all transactions nationwide.

Yun also predicted four of the next five years to be improving markets.

Overall, his forecast for the Charlotte real estate market is promising.

Filed Under: Charlotte NC Real Estate Tagged With: Charlotte Homes for Sale, Charlotte NC Real Estate, Charlotte Real Estate, Lake Norman Real Estate

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