FROM SUMMER CAMP TO TRAINING CAMP

Did you know that Charlotte, NC continues to surge ahead as one of the fastest-growing U.S. cities?  The QC added about 23,000 residents between mid‑2023 and mid‑2024.  Its population boosted to approximately 943,500, elevating it to the 14th largest city in the nation, the broader Charlotte metro area is projected to swell to 4.6 million by 2050, and here are the 3 things you need to know this week. 

Boom Town:  Boomers are sitting on $19 Trillion in real estate. 

This represents nearly half of the U.S. housing market’s wealth. According to Flow of Funds (Federal Reserve) data analyzed by Realtor.com, the total value of owner-occupied real estate nationwide is now $47.9 trillion.  Equity reached $34.5 trillion at the start of 2025, and at $19T Boomers control the largest generational slice of that equity. With nearly 12,000 people turning 65 every day, the question may not be when boomers will sell, but whether they’ll sell at all.

Drop Zone: Mortgage rates dropped to their lowest point of the year; Monday, the avg 30-year fixed fell to 6.57%

While we haven’t seen a single rate cut in 2025, the market just handed buyers, and their agents, a real-time advantage. 6.57% is the lowest level of the year so far. For some that was enough to shift the numbers and re-enter the market with stronger affordability and more negotiating power. We cannot assume this window will still be open next week or even tomorrow; one solid jobs report, one Powell speech, or one market overreaction could erase the gains we just saw.

Still Waiting: Homes for sale in the Charlotte Region are averaging 43 days on market.

This is up 38.7% Year over Year (YOY), per Canopy MLS. Days on Market (DOM) tracks the days on market for a property, and DOM accrues while the home is active.  Meanwhile the List to Close rate has increased 11.5% YOY to a total of 87 days.  List to Close offers the total number of days from the Listing/Active Date to the Sold Date.

Who would have thought the first week of August would feel like the last week of Sept?  I hope you have a great weekend and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.