This is a topic I’ve been having conversations about for a while now and they’ve been increasing lately.
When it comes to pretty much everything in life, including real estate markets, there are seasons that are part of the natural progress and progression. The life cycle so to speak.
When it comes to the Charlotte area real estate market, we have been in what I’d call the full bloom of Summer for a long while. Several years.
I believe that is shifting. And it’s about damn time. Endless summer isn’t only unhealthy, it isn’t sustainable.
The nature of everything in life is cyclical. Including real estate market conditions. Life, death, life. Death and rebirth. It all flows so beautifully yet we as humans can tend to resist such cycles.
Nature is the most brilliant example of these cycles. Summer sighs into Fall, the quiet of Winter which heralds the beauty of Spring and leads to yet another Summer.
What does a shift in Charlotte’s real estate market mean for you?
For those planning to BUY a home: there will likely be increasing opportunities arising. Even a shift to more balanced market conditions will alleviate the super low inventory that’s been so frustrating for home buyers. Keep preparing yourself, your finances, refining your goals and plans. You may also want to check out the Badass Chick’s Guide to Home Buying for more on what to consider (it works for dudes too!)
For those who OWN a home: remember that real estate value is only ever real when to actually sell a house. Perceived value is an illusion, let that shit go right now. If your home works for you now and for the foreseeable future great. If you do plan to sell and move in the future you may not gain as much on the selling side but there will be increased opportunities when buying.
There are ALWAYS challenges and opportunities within every real estate market season.
The Charlotte real estate market is due for a shift in season from the full bloom of Summer to more of Fall and Winter type conditions. But rest assured, a new Spring and Summer always await.
I’ve seen the Charlotte area real estate market in all seasons and it’s been feeling so eerily similar to 2006 and 2007. While I don’t believe the next season will be as deep or prolonged as the brutal years of 2008 and 2009, a change is not just coming it’s more than due to arrive.
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