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Weather plays role in Charlotte housing boom

CHARLOTTE, N.C. — The housing market is the strongest it’s been since before the recession, and the Charlotte area is seeing even better numbers.

Eyewitness News anchor John Paul learned the warmer weather may be helping boost sales.

This year is already off to a strong start with home sales up 15 percent over last January, and the demand is starting to surge.

“We had our first showing this morning, and it's only been listed for less than 24 hours,” homeowner Fran Petzold said.

She thought about selling for a while, but knew now was the time.

“We didn't like feel like sitting on it any longer would increase our profitability,” Petzold said.

The average sales price last month was 12 percent higher than last year, and demand for homes is more than 20 percent higher.

“Right now we have certain conditions that are pretty abnormal,” said Roger Parham, president of the Charlotte Regional Realtor Association.

He expects a huge year for the housing market for two reasons.

First, interest rates are starting to rise, so buyers are trying to get homes now, and the other reason has to do with Mother Nature.

“Look at this wonderful weather we're having right now,” Parham said. “It's as if spring is already here. So our open houses are seeing foot traffic like we've never seen before.”

Housing stock is still low, which means buyers will be shelling out more cash to get their dream home.

Pelham said that's something to keep in mind when house hunting.

“A lot of homes are going on the market and receiving multiple offers so buyers need to be prepared buyers,” Pelham said. “Ready, willing and able to purchase.”

That's something Petzold likes to hear. She doesn't expect her house to stay on the market much longer

“I think we're going to have an offer within the next four or five days,” Petzoid said.

February’s housing numbers should be out in two weeks.

Long-term mortgage rates are essentially flat this week.

Freddie Mac said a 30-year fixed-rate loan is at 4.16 percent, which is up from 3.62 percent a year ago.

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