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🏠 Home inventory rising

Plus: 📉 Robinson's damning remark | Sunday, September 01, 2024
 
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Axios Charlotte
By Katie Peralta Soloff · Sep 01, 2024

Good Sunday morning, Charlotte. It's Katie.

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🎂 Happy birthday to our Axios Charlotte members Lindsay Fisher, Jeryl Villadolid, Tonya Flippin and Ijeoma Emeka!

Situational awareness: Today's the annual Around the Crown, a 10K race that takes thousands of runners on a route along I-277. If you're driving in Uptown, prepare accordingly.

Today's Smart Brevity™️ count is 579 words — a 2-minute read.

 
 
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1 big thing: 🏡 More homes for sale
 
neighborhood in charlotte north carolina

Photo: Laura Barrero/Axios

 

It is still a seller's market in the Charlotte region, but the supply of homes for sale here has been steadily rising in recent months, bolstered by a growing number of townhomes hitting the market.

Why it matters: A more balanced supply will make for a less frenetic environment for folks looking to buy or sell a home. Housing supply also affects affordability.

By the numbers: Thanks in part to lower mortgage rates, housing inventory in the 16-county Charlotte region increased in July by 48.6% year over year to 8,486 active listings, up from 5,700 active listings a year ago, according to data from Canopy Realtor Association.

  • The area now has 2.5 months of housing supply, up from 1.6 months of supply in July 2023.
  • The condo-townhome market's inventory increased by 79.5%, according to the report.

Zoom out: A healthy market is one with four to six months of supply, says Charisma Southerland, president of Canopy Realtor Association/Canopy MLS.

  • At that level, homes sell at market value "in a reasonable time frame, typically 60 days," Southerland says.

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2. ⚡️ Biz lightning round
 
uptown charlotte skyline

Photo: Andy Weber/Axios

 

Charles Barlow has been named the new chief financial officer of Charlotte Eye Ear Nose & Throat Associates. Barlow previously served in health care accounting roles at Atrium Health and OrthoCarolina, CEENTA said in a press release.

Synco Properties confirmed that the second phase of its work at The Colony, a mixed-use development, will consist of a 341-unit, 15-story building on 3 acres at the intersection of Colony Plaza Drive and Rexford Road in SouthPark. (CBJ)

  • The Charlotte-based developer will begin construction once work on the Publix grocery store onsite is underway.

Midas Hospitality, a St. Louis developer, has delivered its first Uptown Charlotte hotel, five years after the original developer abandoned the project. Element Charlotte Uptown is a Marriott-branded, nine-story, 173-room extended-stay hotel at 650 S. Caldwell St. (CBJ)

State regulators approved Duke Energy's proposal to adjust rates due to lower fuel costs. A typical customer will see their bill shrink next year by about $5/month, or 3.6%. (WFAE)

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3. 🗳️ A fateful ad
By
 
North Carolina lieutenant governor Mark Robinson

North Carolina Lt. Gov. Mark Robinson arrives to speak at last month's Republican National Convention. Photo: Brendan Smialowski/AFP via Getty Images

 

Lt. Gov. Mark Robinson's controversial statements have made him a divisive figure since he burst onto North Carolina's political scene about six years ago. But one comment that came to light in June may be turning off voters more than other past remarks, political observers tell Axios.

Driving the news: "Abortion in this country is not about protecting the lives of mothers," Robinson said in a video featured in an ad aired June 5 by his Democratic opponent in the race for governor, Attorney General Josh Stein.

  • "It's about killing the child because you weren't responsible enough to keep your skirt down."

Why it matters: The 30-second spot appears to have had a near-immediate impact on Robinson's campaign, the latest polls compiled by FiveThirtyEight show. His performance in polls has been sliding ever since.

  • Meanwhile, both local and national Republicans have continued to voice concerns about his candidacy.
  • "The 'skirt' ad has been the most effective messaging point against Robinson to date," said longtime Republican political operative Paul Shumaker, who also served as a campaign adviser to one of Robinson's primary opponents, "because it speaks beyond the issue of abortion. It speaks to the issue of blaming women."

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✌️ Call me a grinch, but I'm delighted to say goodbye to summer. Give me a morning frost and cozy sweaters any day over North Carolina's oppressive heat, humidity and mosquitos.

This newsletter was copy edited by Amy Stern.

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