All the Ends Well(s) - Weekly Update - 5-10-24

If you head out to Quail Hollow this weekend you may hear a golfer yell “fore” (if you play golf with me you’ll hear that frequently, but I digress).  Regardless of how many times you hear “fore” these “three” things you need to know for this week. 

When we were Young:  What does home price growth per decade look like over the past 3 and a half decades? 

The Case-Schiller National Price Index reveals some pretty interesting comparison data. We currently sit at 53 months and less than halfway through the decade of the 2020’s, and in that time home prices have risen 47.1% nationally. The 2020’s are shaping up to be the highest price growth decade as compared to the previous 4 decades. Currently the highest home price growth decade remains the 2000’s at 47.3%.  The 1990’s experienced 30.1% price growth and 2010’s saw a 44.7% increase.  

Legends of the Fall: For the first time in two years home prices in all of the top 50 metro areas aren’t falling.  

Redfin shared a report outlining price performance in the top 50 (populous) U.S. metro areas and found that from April 1 - April 28, 2024 the median home price had either remained flat or increased.  This hadn’t happened since July 2022 which is a bit surprising considering a much different rate environment between mid 2022 and today.  The year over year (April ’23 - April ’24) national median sales price increased 4.8% to $383,188.

I’ll take Biophilic for $1,000 please: If you were wondering what the top interior design trend is for 2024 I have one word for you…Biophilic.  

If you subsequently have no idea what that means, that makes two of us…until now. Biophilic is a design style centered around bringing the outdoors inside. This style creates spaces that foster a stronger connection to nature and some examples include: living green walls, the use of natural materials like stone, lighter wood tones, and larger windows for more light. This design trend has been gaining some momentum the past couple years and we’ve seen it take off in much of the design selection in both spec and luxury new construction.  You will see lighter natural floors, cabinetry, and trim selections, large windows, and accents and spaces created with a mix of these materials and colors/tones. 

Enjoy a beautiful and sunny weekend…just in time to do all the things Charlotte has going on!  Go to an awesome neighborhood festival in Sedgefield Park Saturday from 11-4PM (live music, food trucks, vendors, kids zone, beer garden, and more!), maybe pay a visit the Wells Fargo Championship one last time, cheer on Charlotte FC Saturday evening, or hit any of the fresh farmers markets across town.  Whatever you do make sure MOM is at the top of the list and feels all the love on Sunday (and everyday)!

Happy Mother’s Day!

- Steve

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