November 24, 2010 - A surge of homebuyers are pulling up their moving trucks at new homes in Charlotte, North Carolina, helping to reduce that city's housing inventory.

Data from ZipRealty showed that the city's housing stock was at 18,926 in October, down 5.8 percent from the previous month and 5 percent from a year earlier. Charlotte was one of just a few cities nationwide that saw their housing inventories drop both month-over-month and year-over-year, a list that also included Miami, Orlando and Jacksonville. Charlotte also posted the country's second-best yearly improvement; comparatively, the housing stock in San Francisco has grown 53.2 percent since October 2009.

Many buyers may be consulting vanlines and relocating to Charlotte for the city's favorable home prices. The city's median home prices was $185,000 in October, down 1.04 percent from the previous month. Additionally, buyers in Charlotte are finding good deals on their homes as sellers continue to cut prices. The report added that 45.1 percent of home listings in October experienced a price cut.

Buyers may be encouraged to contact long distance moving companies and head to Charlotte for the city's strong economic environment. The city is the country's second-largest banking center, behind only New York City.
 

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