As the spring market is in full swing and home prices are ticking up, mortgage rates have moved higher in recent weeks as well. Freddie Mac reports that the national average rate for a 30-year fixed-rate mortgage rose to 3.17% with an average of .6 points. While rates are still below the average of 3.5% for the same week last year, the year over year comparison has been tightening in recent weeks.

Charlotte Region

For the week ending March 27:

• New Listings decreased 3.5% year-over-year to 1,230
• Pending Sales increased 47.6% year-over-year to 1,252
• Inventory decreased 66.0% year-over-year to 3,056

For the month of February:

• Median Sales Price increased 11.9% year-over-year to $294,000
• List to Close decreased 12.0% year-over-year to 88
• Percent of Original List Price Received increased 2.6% year-over-year to 99.3%
• Months Supply of Homes for Sale decreased 63.2% year-over-year to 0.7 months
  
  

Asheville Region

For the week ending March 27:

• New Listings decreased 12.7% year-over-year to 275
• Pending Sales increased 120.7% year-over-year to 309
• Inventory decreased 61.9% year-over-year to 1,610

For the month of February:

• Median Sales Price increased 13.2% year-over-year to $300,000
• List to Close decreased 23.0% year-over-year to 107
• Percent of Original List Price Received increased 3.3% year-over-year to 96.0%
• Months Supply of Homes for Sale decreased 61.9% year-over-year to 1.6 months