Is Real Estate Returning to Normal? A Look at National Trends vs. Charlotte

Housing demand is changing fast, and for the first time in quite a while, we could see some balance restored to the market. That’s a long way of saying what we’re sure you’re wondering: Is it finally a buyer’s market?

Across the country, a clear trend is emerging: the frantic, sellers’ market of the past few years is fading. So, how does this big-picture shift compare to what’s happening right here in Charlotte? Let’s take a quick look at how the national and local real estate scenes stack up.

Inventory is cooling

Nationally, the number of homes for sale has shot up, reaching levels we haven’t seen since pre-COVID. This trend holds true in Charlotte, too—perhaps even more dramatically. 

The number of active listings in our area has seen a huge jump, meaning more choices for buyers and less competition. This increase in available homes is the main reason the market is starting to feel less stressful. The better the options, the better prospects, the better the homebuying process.

Demand is aligning

With more homes on the market, there’s less of a frenzy to purchase homes uninspected or sight unseen. Nationally, homes are taking longer to sell, with the median time on the market now at over a month and a half. This same pattern is happening in Charlotte, where homes are also staying on the market for a little longer. This change is moving the market from a sellers’ paradise to a more neutral, balanced market where buyers have time to think before making an offer.

Prices are stabilizing

While some might expect prices to fall in suit, that’s not exactly what the data shows. Both national and local markets are still seeing prices increase, but at a much slower and more sustainable pace than before. 

In Charlotte, home prices continue to appreciate at about the same rate as the national average. This means the market is staying healthy, just not overheated.

In short

The real estate market is heading back to a steadier state for both the country and Charlotte. Inventory is up, homes are taking a bit longer to sell, and prices are increasing steadily instead of soaring out of control. It’s a positive shift for buyers, bringing a welcome sense of calm and equalization to what’s been a wild few years for buyers and sellers alike.