Housing market rebounds during the spring in Charlotte

CHARLOTTE, N.C. — This spring truly lived up to its name in the Charlotte housing market with new sales emerging after years of dormancy.

Charlotte Realtors Association President Eric Lucher said Charlotte homes sales in April were up 35 percent over last year.
But it's interesting, he says, that the average sale price is only up 1 percent.

"I think it does represent an educated buyer, and you're also dealing now with more educated sellers too," Lucher said.

One example is seller Jill Zouzoulas, who just listed her home in Dilworth.

"With the interest rates still being so low, we thought we could get more for our money now, since we're just going to be moving in-town." Zouzoulas said.

That's part of the reason Fed Chairman Ben Bernanke urged Congress on Wednesday to keep those rates low.
Unlike the bubble Charlotte saw before the recession, Lucher said this sales bump is healthier because those prices are not inflating quickly.

"They're realizing what the value of a home is to someone, and pricing it correctly will allow them to sell it," he said.

It could help the recovery last longer. One thing that could slow down home sales is a surplus of homes on the market. More people are trying their luck. New listings in April were up 12 percent over 2012.

WSOC