November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.
New Listings were up in the Charlotte region by 7.9 percent to 4,036. Pending Sales increased 26.4 percent to 4,509. Inventory shrank 52.4 percent to 4,554.
Prices moved higher as Median Sales Price was up 13.7 percent to $290,000. Months Supply of Homes for Sale was down 54.5 percent to 1.0., indicating that demand increased relative to supply.
Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.
Current as of December 5, 2020. All data from Canopy MLS, Inc. Report provided by the Canopy Realtor® Association. Based on information from Canopy MLS for November 2019 vs November 2020.