WOW...WHAT A WEEK 😳

Did you know that North Carolina is in the top 10 states for share of total home value in the U.S.?  North Carolina’s total housing market value is $1.5 Trillion (big T), about 2.8% of the nations total market value, the total housing value for the Charlotte metro area is $412 Billion, and here are the 3 things you need to know this week. 

Fiscal Being: Homebuyers on a $3K budget have gained $22K in purchasing power since June. 

The average interest rate for home loans dropped to 6.22% Sept 17; the lowest it’s been in 11 months. This means that someone with a $3,000 monthly budget can now afford a $468,000 home, which is approx $7,500 more than they could have bought just a week ago. Compared to three months ago, when the rate was higher at 6.9%, they can afford $22,000 more!

New Balance: U.S. housing supply hit 5 months in August, the first balanced summer since 2016. 

A balanced market means exactly that…it’s equally weighted for a buyer and a seller.  Typically any time supply reaches between 4 to 6 months it is considered a balanced market.  4 months of supply skews more in favor of sellers and 6 months of supply tilts towards buyers.  For perspective, just 2 years ago (Sept. 2023) Charlotte, NC had just 1.6 months supply.  

Apply Gently: Mortgage applications surge nearly 30% as rates hit yearly low.

The Mortgage Bankers Association (MBA) reported mortgage applications jumped 29.7% in the week ending Sept 12, 2025.  Purchase applications rose 3% week over week, and were 20% higher than last year.  Refinance activity jumped 58% week over week and 70% year over year.  This tells us buyers have been on the sidelines waiting for some rate relief. 

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.