Report signals looming slowdown for Charlotte’s housing market

Though home sales increased across the entire Charlotte region in March, a slowdown inflicted by the novel coronavirus pandemic appears to be in the early stages, shows Multiple Listing Service data from last month.

Home sales totaled 4,254 in March, representing at 5.5% increase year over year, according to Canopy Realtor Association’s monthly report on local existing-home activity.

But pending home sales, an indicator of buyer demand, reversed course in March, declining 2.8% year over year. That’s quite different from January and February, when local activity for pending contracts posted double-digit year-over-year increases — rising 26.7% and 24.8%, respectively.

Read the full story here for more stats on the local housing market.

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