Weekly Market Activity Report
For Week Ending Sept. 29, 2018
(Data current as of Oct. 8, 2018)
The U.S. unemployment rate recently dropped to 3.7 percent, which is its lowest mark since December 1969. The economy continues to bear impressive fruit within and outside of residential real estate, and the Federal Reserve has reacted by raising the benchmark federal funds rate by a quarter of a percentage point, the third rate hike of 2018. While this may be undesirable news for those carrying high credit debt, it is also a reflection of a bright economic outlook.
In the Charlotte region, for the week ending September 29:
- New Listings decreased 3.5% year-over-year to 1,039
- Pending Sales increased 5.3% year-over-year to 1,006
- Inventory decreased 9.6% year-over-year to 10,576
For the month of September:
- Median Sales Price increased 5.1% year-over-year to $235,000
- List to Close decreased 4.4% year-over-year to 87
- Percent of Original List Price Received decreased 0.1% year-over-year at 96.7%
- Months Supply of Homes for Sale decreased 11.2% year-over-year to 2.5