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The Wiley Way Home

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2022 Year in Review & 2023 Forecast

By Helen Adams Realty - January 25, 2023
2022 was another year to remember for real estate in the Charlotte area. The year started much like the previous ended, with tight inventory that positioned sellers for success, low-interest rates that attracted profound buyer demand, multiple offers, and homes that spent very few days on market before going under contract. As interest rate increases became the focus toward the end of 202
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Home Prices Continue to Soften Into New Year

By Helen Adams Realty - January 11, 2023
Canopy Realtor® Association Market Updates Reprinted from December 2022 CRRA Monthly Indicators 2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing home sales down month-over-month and fall
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IntroLend Monthly Mortgage Outlook | January 2023

By Thomas Baker, IntroLend Carolinas - January 09, 2023
The end of 2022 provided slight relief from some of the worst predictions on interest rates. After a rocky fall that pushed rates over 7% temporarily, the December rate hike of 0.5% by the Federal Reserve was expected and inflation data showed minor moves in the right direction. The Fed has made clear they are not done raising interest rates, as inflation has proved stubbornly immune to their mo
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Winter Brings Typical Housing Market Slowdown

By Helen Adams Realty - December 14, 2022
Winter Brings Typical Housing Market Slowdown Reprinted from November 2022 CRRA Monthly Indicators Housing affordability continues to be a major roadblock for market participants, with mortgage rates more than double compared to this time last year. Buyers are delaying home purchases in hopes rates will drop, while many sellers are holding off on listing their homes due to weakening buyer dema
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The U.S. Housing Market is Shifting

By Helen Adams Realty - November 14, 2022
The U.S. Housing Market is Shifting Reprinted from October 2022 CRRA Monthly Indicators Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding econo
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Supply of Homes for Sale Increased Relative to Demand

By Helen Adams Realty - October 07, 2022
Supply of Homes for Sale Increased Relative to Demand Reprinted from September 2022 CRRA Monthly Indicators The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. With inflation showing little sign of abating, the Federal Reserve implemented another 75-basis-point hike in Sept
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Home Sales Continue to Soften this Month

By Helen Adams Realty - September 15, 2022
Home Sales Continue to Soften Reprinted from August 2022 CRRA Monthly Indicators Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pendin
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The Housing Market Continues to Cool

By Helen Adams Realty - August 12, 2022
Canopy Realtor® Association Market Updates Reprinted from July 2022 CRRA Monthly Indicators. The U.S. housing market has continued to cool, as rising mortgage rates and record high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs
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Home Sales Continue to Soften

By Helen Adams Realty - July 12, 2022
Canopy Realtor® Association Market Updates Reprinted from June 2022 CRRA Monthly Indicators. Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three-quarters of a percentage point in June
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The Housing Market Might Be Cooling

By Helen Adams Realty - June 09, 2022
Canopy Realtor® Association Market Updates Reprinted from May 2022 CRRA Monthly Indicators. ​After two years of record-setting activity, there are signs the housing market might be cooling. High home prices and a surge in mortgage interest rates are slowing buyer activity, with home sales declining for the third consecutive month under the weight of soaring homeownership costs. The Nationa
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Mortgage Rates Are On The Rise

By Helen Adams Realty - May 13, 2022
Canopy Realtor® Association Market Updates Reprinted from April 2022 CRRA Monthly Indicators. The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, whi
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The Seller's Market Continues as Inventory Remains Low

By Helen Adams Realty - April 11, 2022
Canopy Realtor® Association Market Updates Reprinted from March 2022 CRRA Monthly Indicators Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of the last measure, according to the National Association of REALTORS®. Builders are
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