Home Sales Up 25 Percent From Last Year

Home sales in April were up 25 percent from last year, according to the Charlotte Regional Realtor Association.

There were 2,220 closings in April 2010, compared to 1,773 in April 2009. The data is drawn from the 10-county Charlotte region, which includes Mecklenburg, Cabarrus and Union counties.

Closings also increased around 17 percent from March to April of this year.

Local realtors said the federal tax credit for first-time home buyers gave sales a boost.

“I definitely think it helped kick-start our local real estate market here,” real estate agent Phil Puma said.

The number of pending contracts was up this year as well, jumping 32 percent from last April.

Though the tax credit program has ended, realtors said there are still driving factors in place to keep the momentum going. Low interest rates, a strong selection of homes and good prices will help keep the market moving.

Potential buyers like Matt Agostinelli, who spent Tuesday looking at condos and townhomes in uptown’s First Ward, aren’t discouraged by the expiration of the tax credit.

“Even though I missed the tax credit, it's not a huge factor in my decision to buy a home,” he said. “I just moved down here a few months ago and didn't want to rush anything.”

Agostinelli can still take advantage of the other factors in play.

“I definitely think it's still a great time to buy, because the prices are definitely down compared to a couple years ago,” he said.

The Charlotte Regional Realtor Association said it expects the momentum will continue through the second half of the year. For more information on Charlotte’s housing market, click here.