Housing activity across the Charlotte region remained stable in July, with buyer demand and sales activity staying close to year-ago levels despite higher mortgage rates.
The Canopy Realtor Association reported that buyers signed contracts on nearly 4,000 homes during the month, helping push pending sales up 2.1% compared with July of last year.
Even so, contract activity slowed from June, declining nearly 6% as buyers contended with mortgage rates that climbed into the upper 6% range during July.
Seller activity also remained steady. New listings increased 1.1% year over year, with about 5,500 homes hitting the market in July.