Real Estate Update and Forecast: Signs of Positive Change are HERE!

by Michelle Alexander Hovey

The US Labor Bureau has now given the new CPI for December 2022 showing a .1% decrease overall to 7%. While this isn't a massive change it's certainly heading in the right direction to kick off the year.

It's also an indicator the Fed will refer to in making their next moves for 2023. Our data points are showing we may have seen the peak of inflation and mortgage rates already.

Following up with real estate market stats, both the Lake Norman and Charlotte market are up in overall prices and down in new inventory.

*Courtesy of Canopy MLS

This past week I have seen mortgage rates under 6% and a lot of talk of people waiting to put homes on the market in the spring. Again, urging the message to PREPARE NOW if you are looking to buy. If you're not ready, the perfect home will likely go fast and you don't want to miss it. Stay informed with weekly rates and when to pull the trigger.

✅ASK me if you need a lender referral! I have a lot of relationships that may be the right fit for you.

If you are looking to sell, you still need a pricing strategy that aligns with the market. As a Strategic Pricing Specialist, I can give you an outlook for your specific area and help with planning for your move.

Part of why home prices keep going up is the influx of all kinds of development in our urban and suburban areas. With all of Charlotte/Lake Norman have to offer, it's desirable here! Some of our neighboring towns and cities may be the next big thing to look out for depending on your needs and goals.