CHARLOTTE, N.C. — A recent Zillow report holds clues that will likely sound promising to Charlotte homebuyers, who have become all too familiar with rising home prices.
[ [US home prices post 6.2 percent increase] ]
Research from the residential real estate site shows that metro Charlotte’s share of home listings with a price cut jumped to 15.4% in June, up 4.2 percentage points from 11.2% in the previous year, reflecting a trend experienced by two-thirds of the nation’s largest 35 housing markets. Nationally, 14.2% of listings saw a price cut in June versus 13.4% a year ago, and Western housing markets led that growth in price cuts.
The Zillow report also pegs Charlotte as one of the three largest markets where home value growth is expected to slow the most over the next year.
[ [Home buyers spending more; home prices rising] ]
But not so fast, says Jason Gentry, president of the Charlotte Regional Realtor Association. He has a more tempered expectation of when Charlotte’s home-price growth may begin to cool.
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