Charlotte-area home prices remain level compared to this time last year, supply continues to remain historically low, and pending home sales are flat year to date, the latest MLS data shows.
This isn’t unusual though; the uncertainty of election years tend to make the typical seasonal slowdown much sharper. According to a recent Redfin survey, nearly one in four first-time U.S. homebuyers decided to wait until after the election to start their home search.
So what does this mean as we end the year? The Charlotte real estate market is likely to experience its usual slowdown with fewer buyers out shopping and sellers prepping their homes for spring – especially as mortgage rates remain elevated.
Heading into 2025, however, we should expect activity to pick back up as it typically does after the New Year and following an election year. Home sales increased after nine of the last 11 election years, figures from Keeping Current Matters show. The real estate resource platform projects 5.2 million U.S. home sales in 2025, compared to 4.6 million this year.
If selling or buying a home is one of your resolutions for 2025, now is a great time to connect with a Dickens Mitchener agent to help you navigate the transition.
