Changing rates, tight supply challenge buyers in spring housing market – WCNC.com

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CHARLOTTE, N.C. — The path to homeownership remains a challenge for some amid tight housing supply and fluctuating rates.
New data released by the Canopy Realtor Association shows home sales across the Charlotte region were down more than 21% in April compared to last year.
Tiffany Johannes, who leads the association, said frustration over affordability and a tight supply are driving the change.
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“We still are clearly in a seller’s market and that doesn’t mean that a seller can ask any price they want like in the last couple of years,” Johannes said. “They’ve got to ask a reasonable price. They’ve got to have a home that has curb appeal, maintenance taken care of, and in good condition to get top dollar in today’s market.”
Still, there are some bright spots in the latest data with roughly 4,700 homes available. That’s up nearly 28% from last year, according to the association.
Anson and Stanly Counties are seeing some of the most sales, a trend the association believes comes from buyers being more willing to trade commute times for affordability.
“Don’t dive in with something that isn’t going to work for you long term, you want to make sure it makes financial sense for you, and trust the guidance of your realtor,” Johannes said. “You will find the right home at the right time and there’s going to be an opportunity in our market for you.”
To find more market data for the Charlotte region, visit Canopy Realtor Association online.
Contact Kayland Hagwood at khagwood@wcnc.com and follow her on FacebookTwitter and Instagram.
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