NOT ANOTHER NECK TIE

 

Dad. 

 

Three simple letters with a universe-sized definition, and here are the three things you need to know this week. 

For A Rainy Day:   57% of current home owners used personal savings to finance a home purchase.  

To finance a home purchase, most current homeowners used personal savings (57%), while some tapped investments or retirement accounts (15%). A small share (12%) of homeowners leveraged gifts or loans from family members. Interestingly, about 1 in 4 respondents who plan to buy a home in the next six months anticipate pulling from their retirement savings. 

No Bull: NAR (National Association of Realtors) is projecting a 6% increase in existing-home sales for 2025. 

There’s some cautious optimism when it comes to existing-home sales, however not everyone sees it the same way.  Recently NAR came out with the most bullish projections of a 6% increase in existing-home sales for 2025, followed by an 11% gain in 2026.  Fannie Mae expects a more moderate recovery, with a 4.4% increase in existing home sales in 2025 (4.238 million).  Zillow now expects 4.12 million existing-home sales in 2025 (1.4% YOY increase), but still down slightly from its previous forecast of 4.2 million.  While nobody has a crystal ball the positive news for sellers is that sales activity is expected to improve next year, just expect that gains will likely be incremental. 

If You Build It: Single and multi-family site development pipelines for the Greater Charlotte Area continuing to grow. 

All this talk of rates, prices, days on market, buyers market (or is it still a sellers market?), and one thing is still true.  Builders are still buying and building in the Greater Charlotte Area.  Several large North American builders (D.R. Horton, Toll Brothers, and Mattamy Homes (among others) are continuing to purchase/develop/open communities around the region. In fact Toll Brothers just purchased two large sites one in Steele Creek and 100 acres in Huntersville along with completing the first 6 of an 82 unit townhome development in LoSo.  D.R. Horton recently held a grand opening for a 104 single-family home development; Reedy Creek Preserve development off Rocky River Road.  Mattamy Homes started sales for two multi-family townhome developments; one near Marvin Rd and the other just south of the University City area.  

To all the fellas who still get to call their Dad, remember their Dad, provide and serve as a Dad, or are blessed to be a Dad…Happy Fathers Day!!  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.