The month of September indicated almost 43% of the sales were distressed sales in Charlotte. This includes "closed" sales and "pending" sales. This is up from 38% in August. This increase shows a new demand for foreclosures and an indication that our market is beginning to recover!
This is based on the city of Charlotte Homes for Sale and only single family homes. I did not calculate townhomes, condos and multi family homes.
As the Government pressure increases to reduce spending and control expenses, as indicated by the Charlotte Real Estate market, consumer confidence is picking up. What makes me so confident that our real estate market is reflective of the national economy?
Charlotte was one of the areas in the US that was very popular, growing rapidly but still not hyper inflated. Charlotte is the place that many from the northeast are relocating along with Floridians. These populations reflect a huge portion of the US, Charlotte is centrally located, mild winters, not too terribly hot and immensely popular! Many are relocating to Charlotte and have been holding back! The time has arrived. The deals are going faster than ever and a wise person knows when to seize an opportunity!
