A Comprehensive Breakdown of Our Local and National March 2018 Market

Our latest market update is a comprehensive look at the most recent national housing trends, as well as a statistical breakdown of what’s happening here in Charlotte. 

Here are the timestamps of the video above so you can skip ahead to certain sections that may interest you:

1:17 – Year-over-year changes in home price by region and state.

2:03 – State-by-state and country-wide home price appreciation over the last five years.

2:39 – Forecasted year-over-year growth in home prices.

2:59 – A summation of our current national market by Dr. Frank Nothaft, the chief economist of CoreLogic.

3:45 – Case Shiller’s 20-city composite of monthly year-over-year price changes.

4:16 – The national average annual appreciation, broken down into four time periods: pre-bubble, bubble, bust, and recovery to date.

5:17 – The projected national percentage of appreciation over the next five years.

5:43 – Cumulative house appreciation by 2022.

6:08 – Thoughts on our current market from Daren Blomquist and Zillow.

6:37 – The actual median sales price for each year from 2000 to 2017 versus the hypothetical median sales prices with normal historic appreciation.

7:28 – State-by-state breakdown of the home appreciation percentage from the pre-crisis peak to now.

8:09 – A mortgage rate forecast and its implication for buyers.

9:16 – The statistical impact of increasing mortgage rates on home prices.

10:25 – Thoughts on increasing mortgage rates from Freddie Mac, First American, and MarketWatch.com.

12:55 – Appraiser home value opinions compared to homeowner estimates for the last 12 months.

13:13 – Thoughts on the luxury market from the Institute for Luxury Home Marketing.

13:32 – The national average days on market for luxury homes for the last 10 months.

13:46 – Each state’s current average days on market.

13:58 – Percentage of distressed property sales.

14:13 – State-by-state seller traffic.

14:24 – The average month’s inventory from January 2011 to January 2018.

14:36 – State-by-state buyer traffic.

14:47 – Past and future foot traffic.

15:15 – Mortgage rate projections for each quarter of 2018.

15:30 – The average FICO score distribution by percentage.

16:45 – The average price per square foot, the average sale price, and the average days on market of Charlotte homes from 2005 to 2018.

If you have any questions about our national or local market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to us. We’d love to help you.