At first glance, it appears that Charlotte NC has a booming real estate market. Home prices are up from a few years ago and houses are going under contract quickly.However, a closer look at the data suggests that the volume and pricing are on a downward trend, according to National Realtor data.
Here’s a look at who’s searching for Charlotte real estate on Google, courtesy of Google trends.
It’s interesting to note the different states searching for “homes for sale” which is likely to be potential home owners compared to “real estate” which is more likely to be investors.
New York and Texas pop onto the Charlotte Real Estate map, while Florida and Georgia are on the homes for sale map. It’s no surprise that Californa and North Carolina are on both maps but Oregon was a surprise.
It’s fascinating to see the comparative data instead of just looking at the news headlines. There are, of course, many more statistics to look at for a full view of what’s going on with the Charlotte market now, including average days on market, median home price, etc. However, the realtor data above indicates that volume and pricing is softening, as any Charlotte NC company may be sensing the interest in home buying, as well as other home related spending decreasing.
Perhaps the slow down is related to uncertainty around the stock market, world political climate, and pending election. Either way, it’s worth keeping an eye before making a big investment at top dollar.