Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 97 NUMBER 106 ■ MECKTIMES.COM
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TUESDAY, OCTOBER 19, 2021 ■ $2.00
ZOM Delivers City’s First Residential Development Page 5
New Apartment Neighborhood Coming to Monroe Page 2
City Announces Reopening of Government Center Page 4
Salary Increases Trending Up, Breaking a 10-Year Cycle Page 4
Report: Employees Want Intelligent Automation Page 4
The Curse of the Million-Dollar Franchise Page 7
Report: Pending Home Sales at Slowest Growth Since June 2020 Pending home sales rose 9%, the slowest growth since June 2020, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. More home sellers have started slashing their prices—another sign of softening seasonal homebuyer demand. Still, prices remain elevated, up 15% from a year earlier. Additionally, the actual num-
ber of pending sales fell to the lowest level since April 2021. “The housing market has clearly become slightly more favorable to buyers,” said Redfin Chief Economist Daryl Fairweather. “Homes are taking longer to sell, which gives buyers more time to make thoughtful decisions about whether to make offers. Home prices have plateaued,
so buyers shouldn’t feel rushed to buy before prices rise further. And the fact that more sellers are dropping their list price is a sign that sellers have to be realistic about their price expectations.” Key housing market takeaways for 400+ U.S. metro areas:
PLEASE SEE SALES ON PAGE 6
Investors are also looking ahead to economic data this week that could shed more light on what’s going on with inflation. The Labor Department will release its Consumer Price Index and its Producer Price Index. The reports detail pressure from inflation on consumers and businesses.
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