The Tryon Street Journal

Why is it that the media likes to report positive news negatively?  The Charlotte Business Journal headline reads “Charlotte existing-home sales down 15%“.  Sounds bad, huh?  But read on, and you’ll find that the average home price climbed 4% in July to $239,696 when compared to July 2006.  Which means our residential real estate is still appreciating, unlike many other parts of the country.  What I don’t really care about, and I’m not sure why anyone else would, is that the number of transactions decreased 15%.  So fewer people are trading homes.  Big whoop.  If people are happy living in Charlotte, and more specifically in their current home, they won’t sell… which will result in fewer sales… which will drive up the price, 4%.