Charlotte’s new-home industry continues to struggle because of several factors, including a weak economy, a poor job market, foreclosures, fears of declining home values and tight credit conditions, said Bill Miley, Metrostudy’s Charlotte market manager. “While it is likely that the market hit a bottom in terms of annualized starts and closings in the fourth quarter of 2009, and that single-family detached homes are in short supply in some Charlotte counties, demand for homes in 2010 will depend on job growth,” he said.Read more
More state and national mortgage news and mortgage press releases:
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