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Look for more inventory and lower prices this coming year.
After a few years of low inventory and surging prices, potential homebuyers in Charlotte could be seeing some relief in early 2022. Real estate indicators suggest there will be more inventory becoming available—particularly in desirable neighborhoods—and that prices may not only be leveling off but could even see some reduction.
What’s happening to prices?
- Rising prices in 2021 have many potential homebuyers waiting.
- As demand drops, inventory grows, and prices eventually lessen.
- Home prices may surge slightly in the spring as usual but then level off and eventually lower again.
- Better buying conditions could possibly continue for the next five years.
What should you do?
- Start your search a couple of months before you intend to make any offers.
- Get your credit score to a minimum of 620. The higher, the better,
- Get a loan approval sooner than later.
- Be prepared to meet a down payment of at least 3.5%.
If you need help buying or selling a home in the new year, be sure to contact our team of experienced real estate agents!
Source: Axios Charlotte
Shelly Henderson
Shelly calls herself a “Charlottean” because her family has been there since her elementary school days. She serves as Henderson Properties’ co-founder, along with her husband Phil, managing the day-to-day operations, social media branding and leadership development. Her different life experiences, both positive and challenging, earned the title to her first book Starting From Scratch. Shelly has a servant’s heart and leads her company with purpose and passion. She is mom to two sons who continue as young adults to make her heart swell.