With the stock market reaching record highs, continued low unemployment, and low mortgage rates, many signs in the US economy remain strong. However, total household debt has been rising for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous peak of $12.68 trillion in 2008. While delinquency rates remain low across most debt types, including mortgages, higher consumer debt loads can limit future household spending capability and increase risk if the economy slows down.

Charlotte Region

For the week ending Nov. 9:

• New Listings decreased 5.7% year-over-year to 983
• Pending Sales increased 19.2% year-over-year to 942
• Inventory decreased 18.0% year-over-year to 9,250

For the month of October:

• Median Sales Price increased 9.3% year-over-year to $253,000
• List to Close decreased 1.1% year-over-year to 91
• Percent of Original List Price Received increased 0.3% year-over-year to 96.5%
• Months Supply of Homes for Sale decreased 21.4% year-over-year to 2.2 months

Asheville Region

For the week ending Nov. 9:

• New Listings increased 16.7% year-over-year to 280
• Pending Sales increased 61.2% year-over-year to 287
• Inventory decreased 11.7% year-over-year to 4,940

For the month of October:

• Median Sales Price increased 4.3% year-over-year to $266,000
• List to Close increased 4.2% year-over-year to 125
• Percent of Original List Price Received decreased 0.9% year-over-year to 92.8%
• Months Supply of Homes for Sale decreased 18.2% year-over-year to 5.4 months