Charlotte’s year over year home prices are still down 2.8% according to S&P/Case-Shiller Home Price Indices Data. Charlotte was one of 5 cities
with weak growth rates (seasonally adjusted -.9%) in the latest report.
“While still positive, Boston, Charlotte, Cleveland, Dallas and Denver reported weaker annual growth rates compared to their reports from last month.”
David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s noted about the market in general – “Since reaching its recent trough in April 2009, the housing market has really only stabilized at this lower level. The two Composites have improved between 5 and 6% since then, but this is no better than the improvement they had registered as of October 2009. The last seven months have basically been flat.”
This week the median list price in Charlotte, NC is $190,000. 7285 properties have been on the market for an average of 184 days and while inventory and days-on-market are climbing, the current rate of sale vs. the amount of inventory sold has been flat recently. These trends point to a weakening market; for qualified buyers, the market continues to trend heavily in their favor.
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