Months of Inventory (or MOI) in real estate is the number of months it would take to sell all homes listed at the current pace of sale. It's just one of the ways we understand if the market is balanced, or favorable to either buyers or sellers.

A six-month inventory is generally considered a "balanced market". In this case supply is equal to demand, and neither party has a significant advantage. Under 6 months is considered a sellers market, properties are moving fast. And over 6 months favors buyers who then have more choice.

In the Charlotte market we saw MOI's of 1.4 and 1.1 in January and February respectively. If you've been thinking about selling your home or investment property - now is the time.

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In 2022 property investment still remains one of the best ways to make strong returns. As the effects of the recent Covid19 pandemic begin to fade, the property market is proving to be one of the most popular sectors for investors.

Home prices are continuing to increase in value and gains from rental income can be substantial. Previously untapped regions and new multifamily zoning leave plenty of opportunity for property investors to capitalize on the favorable market conditions. High demand and low supply is driving up the average cost of rent and some regional markets are set for even higher increases. Those who wish to invest in rental properties now will be able to maximize profits in the coming years.

Pre-approved financing makes it easier to get a loan - it simplifies and speeds up the process. Knowing that your financing is already approved will also make your offer more attractive to sellers. They will often accept a preapproved offer over a higher offer that isn’t already approved by the bank. Here’s some things you should know about the pre-approval process:

Know the difference between “preapproved” and “prequalified.” These two terms may sound similar, but they have important differences.

“Prequalified” means that you filed paperwork with a lender and received notification that you can later get a loan. You’re earlier in the financing stages. You haven’t received a loan if you’re prequalified.

“Preapproval” is taken more seriously than prequalification and brings you more advantages in the buying process. Taking the time in advance to get preapproved will be well worth it.