Although it might seem like bad news for those who are currently buying their first homes and have nothing to sell for the move, December's strong showing in Charlotte real estate is great news for the city's economy. Average home prices went up to $224,128, which is a staggering 9 percent higher than last year's figure.
Charlotte’s housing market continued its upward trajectory in December, with prices and sales up from a year ago as the number of homes for sale hit its lowest level all year, the Charlotte Regional Realtor Association reported Tuesday.
But the association cautioned Tuesday that federal mortgage rules that take effect Friday could hurt sales as some buyers are disqualified for mortgages. The rules require lenders to scrutinize financial information about borrowers and are designed to prevent the sort of risky loans that contributed to the financial crisis. Read More