Reflecting New Financial Realities
A report from the Charlotte Observer in North Carolina. "Charlotte’s housing market got off to a slow start in 2019, and some experts say that the government shutdown is partially to blame. Data from Carolina Multiple Listing Services showed that home sales declined 9 percent in January from the previous year. This marks the ninth month in a row that the number of homes sold fell from the year before."
"New residential listings rose 13 percent, which Brenda Hayden, president of the Charlotte Regional Realtor Association said is a sign that seller confidence is increasing. 'Unfortunately it usually takes the delivery of a message multiple times before people think ‘OK, maybe it is a good sell,' she said."
The Naples Daily News in Florida. "There's good news for buyers in the Naples-Fort Myers market. Home price increases have tapered off, according to Metrostudy. The base sales price for a new home today averages 1 percent less than it did a year ago."
"'We're in the mature stage of the housing recovery. I do think we're going to see a couple more good years in the housing market, but it's going to be less growth and less price appreciation than say in 2013 or in 2014,' said David Cobb, a regional director for Metrostudy."
"The Naples-Fort Myers market saw 5,139 home starts in 2018 — up 12 percent from a year ago. The upward trend in starts ended a relatively flat period of growth in 2016 and 2017. 'I think overall the housing market has still got some legs to it, even though this economic recovery has been going on since 2009. It's the longest economic recovery we've ever had,' Cobb said."
From 27 East on New York. "Perhaps reflecting new financial realities of Hamptons high-end real estate, Tick Hall, the longtime home of the television host and writer Dick Cavett, has undergone its second significant price drop and is now available for $33.95 million, via Corcoran. When the 19.8-acre estate was originally listed in June 2017, the ask was $62 million, and that was cut to $48.5 million last August. With new representation there is a new effort to sell the 19.8-acre property."
"Another property is back on the market after a price drop, although this one moved from only a shade under $30 million to $24.95 million."