CHARLOTTE — A slower Charlotte housing market persisted in July, as several key metrics posted modest annual gains alongside monthly declines.
Home sales across the 16-county region in July increased 1.6% over the year to 4,142 — a 3.7% drop from June. That’s as pending sales increased 2.1% annually to 3,963 — a 5.7% decrease from the previous month.
The Canopy Realtor Association released that data in its latest monthly report on the Charlotte region’s residential real estate market. The trend in contract activity points to home sales continuing to temper in the coming months.
Elevated mortgage rates could also pressure home sales, Canopy warned in the report. Interest rates for a 30-year fixed mortgage rose from 6.43% to 6.66% by the end of July, according to Freddie Mac data. They’ve remained at or near 6.66% throughout August.
Keep reading on CBJ’s website.
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