CHARLOTTE, N.C. — Low Inventory.
That’s how the Spring market is starting in many price points, according to Charlotte realtors.
While this is traditionally a busy time for buyers and sellers, around the country many cities are reporting a sluggish start.
“There’s not a lot of inventory. You’re right about that,” said Jean Benham of Allen Tate Realtors. Benham says there is an even greater shortage of homes under $250,000.
Benham has sold more homes in Piper Glenn than any other realtor. She’s closed more than 260 homes in that south Charlotte neighborhood alone in the past 15 years.
The real estate dynamo says the shortage in inventory has made it more important than ever for buyers to be ready.
“They are on the internet 24/7 and we’re emailing all the time and ready to go,” said Benham of her clients who are looking for new homes.
Around the country, experts say a more extreme winter and higher interest rates are factors for the numbers. Many buyers who might be interested in changing homes within the same city are discouraged, they say.
Heather Hatch will be relocating to California from Charlotte. She’s hoping the low inventory will mean her home in Piper Glenn will sell faster. But on the buying end, she too is watching interest rates.
“Absolutely. I think everyone does. I do think that factors in,” she said.
April’s final housing numbers are expected to be released this week.