Charlotte Area Home Sales Down More Than 30 Percent

News statistics show the Charlotte housing market is feeling the brunt of the slowing economy even more.

Right now, 22,000 homes are for sale in and around Mecklenburg County.

Terry Flowers owns one of them.

"Oh my gosh, it is so frustrating. I have tried and tried to stay positive, but it's really hard," she said.

Flowers put her east Mecklenburg County home on the market for less than what she paid for it. But after nearly two years and four realtors, she said her patience is wearing thin.

Now a new report shows local home sales are down 30.6 percent.

“It feels like another knife in the back because, to me, I just feel like I'm going to be stuck in this position even longer," Flowers said.

The Charlotte Regional Realtors Association released the report Tuesday. The group said blames consumer confidence and a crippling economy, and leaders of the group said it may take months for the housing market to rebound.

University of North Carolina at Charlotte economics professor John Connaughton said the home sales percent likely won’t drop much more.

"We're probably pretty close (to rock bottom) simply because the numbers we're seeing today reflect the fact that 25 to 30 percent of the people can't buy," he said.

Connaughton said the slowing housing market may remain in place in the Charlotte area for at least a year, or until banks begin to lend to more people again.

Meanwhile, local sellers, like Flowers, are trying to hang on.

"I’ve got to be patient, but this is just out of the norm for us to have to wait this long to sell a house," she said.