*
Charlotte, NC Steve Lonnen August 1, 2025
Here we are…8 months into the year. A break from the summer heat waves, vacations wrapping up, schools will start in just a couple weeks, football is almost back, and here are the 3 things you need to know this week.
Shallow End: Only 36.6% of Americans under the age of 35 own a home.
The U.S. homeownership rate just hit a 5-year low. Is a generation getting squeezed out? According to the National Association of Realtors there were a little more than 1.1 million of first-time buyers in 2024. This represented the lowest number of first-time buyers since 1989. The average age of the home buyer in 2024 was 38 years old; in the 1980s, the average was in the late 20s.
Nepo-Homebuyer: Almost 1 in 4 young homebuyers got help from their family this year.
Whether that’s a down payment gift, a loan, or an early inheritance, it's more common than people think.
According to a Redfin survey almost a quarter of Gen Z and Millennial buyers recently used family money to make it happen, either as a cash gift or inheritance. See the article for 3 do’s and don’ts when setting your kids up with real estate. 3 Do's and 3 Don'ts when setting up your kids for purchasing real estate
You’ve Got Options: Charlotte Area housing inventory increased 35.9% annually. Nears highest level since 2018.
3
Per Canopy MLS data, close to 11,500 homes were for sale across the entire area — up 35.9% from about 8,450 a year ago and up 4.2% from roughly 11,000 a month ago. This is pushing Charlotte, NC closer to a balanced market at 3.2 months of inventory. On a positive note for home sellers; despite the inventory increase median home sales price climbed 2.7% to $417,250 in June.
I hope you all enjoy your first weekend of August and the cooler temps! 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.
Steve
Stay up to date on the latest real estate trends.
best ways to buy a home
Your Charlotte NC Weekly Real Estate Update
best ways to buy a home
Your Charlotte NC Weekly Real Estate Update
Charlotte, NC
Your Charlotte NC Weekly Real Estate Update
Charlotte, NC
Your Charlotte NC Weekly Real Estate Update
Charlotte, NC
Your Charlotte NC Weekly Real Estate Update
home buyer
Best Practices On Buying Real Estate
family
Your Charlotte NC Weekly Real Estate Update
Your Charlotte NC Weekly Real Estate Update
Your Charlotte NC Weekly Real Estate Update
We are a tight-knit team of dedicated real estate professionals. Through the teamwork and support of the leadership team we provide high end service to all of our clients in the home buying, selling, and investing process.