More Charlotte homes on the market despite interest rates

CHARLOTTE, N.C. — If you've been waiting on the sidelines of the housing market, your day is soon coming, according to realtor David Hoffman with David Hoffman Real Estate

"We're gonna see inventory pick-up as we go into the fall and then winter. We're going to see prices fall," Hoffman said.

Charlotte housing inventory is at a five-year high, increasing from the lows of the pandemic and initial reaction to higher interest rates. Right now, Hoffman describes the market as some hybrid between a buyers and sellers market. Immaculate homes in the right neighborhood can get over-asking prices. Fixer-uppers are less desirable.

"If the home needs any work whatsoever, or if there's any competition, the buyer has no appetite for sweat equity, because rates are so high. And the buyer loves options. And so they do nothing," he said.

But as interest rates come down, as they're expect to this fall, more inventory will come on the market.

"I think we're moving towards a buyers market. Once rates start falling down," he said.

Watch full interview starting at 9:48.