This week Fannie Mae, Freddie Mac, and the FHA suspended all foreclosures and evictions for 60 days in response to the continued COVID-19 outbreak. Further, the Federal Housing Finance Agency (FHFA) annouced that borrowers with loans backed by Fannie Mae and Freddie Mac who face financial difficulties due to COVID-19 may be able to suspend their mortage payments for up to 12 months. Impacted borrowers are urged to reach out to their mortgage companies to discuss their situation.

Charlotte Region

For the week ending March 21:

• New Listings increased 6.8% year-over-year to 1,447
• Pending Sales increased 0.7% year-over-year to 1,175
• Inventory decreased 25.7% year-over-year to 7,348

For the month of February:

• Median Sales Price increased 11.6% year-over-year to $262,000
• List to Close decreased 6.6% year-over-year to 99
• Percent of Original List Price Received increased 0.9% year-over-year to 96.8%
• Months Supply of Homes for Sale decreased 32.0% year-over-year to 1.7 months

Asheville Region

For the week ending March 21:

• New Listings decreased 2.4% year-over-year to 324
• Pending Sales decreased 10.7% year-over-year to 218
• Inventory decreased 19.6% year-over-year to 3,696

For the month of February:

• Median Sales Price increased 8.2% year-over-year to $265,000
• List to Close decreased 4.1% year-over-year to 139
• Percent of Original List Price Received increased 0.4% year-over-year to 92.8%
• Months Supply of Homes for Sale decreased 28.3% year-over-year to 3.8 months