WFAE 90.7 – August 3, 2021 – image via WFAE Erin Keever
In many cities across the country, real estate is hot. Homes are in high demand and selling at a premium. It’s a boon to sellers who often field multiple offers above the asking price and find their homes sold in a day.
For buyers, this presents an ever-growing challenge. Charlotte’s real estate market is white-hot. Inventories are at historic lows which is driving prices up. Interest rates are low, driving demand and prices, but there’s something else at work: investors gobbling up homes and turning them into rentals.
We take a look at the impact of all this on buyers, sellers, renters and realtors and at how long this can last.
Ely Portillo, assistant director of outreach and strategic partnerships, UNC Charlotte Urban Institute
Jonathan Osman, broker and owner of Tryon Realty Partners
Bart Hopper, founder of Hopper Communities, a homebuilder based in Charlotte