Home building, inventory take upward turn in Charlotte housing market

CHARLOTTE — Charlotte homebuyers who’ve contended for years now with a dearth of inventory, in turn driving up home prices, could find some relief on the horizon, as signaled by two recent studies.

In its Housing Market Trends Report for June, Realtor.com pegged the Charlotte-Concord-Gastonia region as having the fourth-highest increase in newly listed homes last month among the nation’s 50 largest metro areas, posting growth of 30.1%. Metros with new-listing counts exceeding that of Charlotte in June were in Southern states. The Raleigh metro had the highest uptick, with growth of 37.6%, followed by Nashville, Tennessee, where new home listings rose 37.2% over the year, and Las Vegas, which recorded a 34.8% increase.

Overall, the inventory of active listings in the Charlotte area jumped 36.7% year over year, per the report. While encouraging, that pace trailed several other Southern markets. Austin, Texas, for instance, boasted the highest inventory growth of 144.5%, followed by Phoenix, at 113.2%, and Raleigh, at 111.7%.

The report coincides with another recent study that bodes well for local buyers in terms of more housing supply. Charlotte landed among the top U.S. markets for home building, according to Redfin Corp.

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