Charlotte-area home sales, pending contracts plunge more than 35% in November

CHARLOTTE — A slump in Charlotte’s housing market persisted in November.

Home closings and pending contracts year over year plunged for an 11th-straight month across the 16-county region, showed Canopy Realtor Association’s report for November, released today.

About 3,110 homes sold in November — a 35.9% drop from the same month in 2021, marking the steepest decline of the year, and a 12.8% decrease from October. Pending sales fell 36.1% over the year and 14.9% over the month, with 2,868 homes going under contract. That signals sales will continue to be weak.

Though the end of November, local home sales totaled about 47,000 for the year and were pacing near the 2019 year-end total of 50,853 closings.

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The monthly housing reports come from the Canopy MLS data and include single-family, condo and townhouse transactions.

“When we look back at 2021 housing market numbers, what we saw was an anomaly compared to previous years, which makes the year-over-year declines that we’re currently experiencing appear significant,” said Lee Allen, Canopy’s 2022 president, in a news release.

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