Charlotte housing selling faster than last year

Charlotte homes are selling four days faster than a year ago, according to June data released by realtor.com.

In fact, the National Association of Realtors website said the market is the most improved in median inventory age at 64 days.

The website listed Charlotte in its top 10 housing markets poised for significant growth in home sales in the third quarter.

The Charlotte-Gastonia-Concord metropolitan statistical area had a median listing price in June of $209,000, reflecting year-over-year growth of 7.18 percent. Inventory, though down from last June, was up 3.53 percent from the previous year, according to realtor.com.

Another Carolinas market, Columbia, S.C., also placed in the realtor.com top 10.

Across the country, other markets with bright outlooks for the next quarter include Albany, N.Y.; Baton Rouge, La.; Des Moines, Iowa; Philadelphia; Portland, Ore.; Reno, Nev.; Spokane, Wash.; and Washington, D.C.  Contrary to moderate gains in the national market, these cities are showing strong home sales indicators, according to the real estate website’s data, including price appreciation and housing inventory increases.

“National housing trends are masking some of the excitement we’re seeing in individual markets,” said Jonathan Smoke, chief economist at realtor.com. “Our June data shows monthly inventory picking up in markets already experiencing price increases and fast property turnover. These dynamics will result in strong home sales and extends the buying season past the usual June/July peak to later in the third quarter.”

The 10 housing markets with the brightest prospects were all very different, Smoke said, ranging from small to large, affordable to expensive, and deeply to minimally affected by the downturn. He said he believes that the diversity indicates a sustainable housing recovery.