Freddie Mac reported this week the average 30-year fixed-rate mortgage interest rate rose to 2.81%, its highest point since mid-November, but still far lower than the 3.49% average from the same time last year. Interest rates may rise further in coming weeks, but according to Freddie Mac chief economist Sam Khater, “while there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.”

Charlotte Region

For the week ending Feb. 20:

• New Listings decreased 7.6% year-over-year to 1,040
• Pending Sales increased 17.2% year-over-year to 1,188
• Inventory decreased 59.9% year-over-year to 3,280

For the month of January:

• Median Sales Price increased 12.9% year-over-year to $285,000
• List to Close decreased 16.0% year-over-year to 84
• Percent of Original List Price Received increased 2.9% year-over-year to 98.9%
• Months Supply of Homes for Sale decreased 57.9% year-over-year to 0.8 months
  
  

Asheville Region

For the week ending Feb. 20:

• New Listings decreased 1.3% year-over-year to 232
• Pending Sales increased 52.9% year-over-year to 315
• Inventory decreased 56.0% year-over-year to 1,770

For the month of January:

• Median Sales Price increased 20.3% year-over-year to $315,000
• List to Close decreased 12.8% year-over-year to 116
• Percent of Original List Price Received increased 2.8% year-over-year to 96.0%
• Months Supply of Homes for Sale decreased 60.5% year-over-year to 1.7 months