Source: Real Trends —
As we polish the silver for the spring buying season we have to ask, will anyone show up for dinner? Our best few months of the year typically are the ones when flowers bloom and the sun is warming the sidewalks of our neighborhoods. In the south we are in the spring buying season already and although the tables are set and dinner is cooked, it’s getting cold.
The market was hit with a one-two punch — inventory is down and mortgage rates are rising.
Look at a home in Charlotte, North Carolina in 2019. A three-bedroom, three-bathroom home with 2,400 square feet in South Charlotte has a $400,000 list price. The borrower has 20% to put down ($80,000) and get a conventional 30-year loan of $320,000.