Charlotte-area home prices rose 4.7 percent in May from a year ago.... It was the 27th month in a row of annual gains for the Charlotte region, the widely watched report on existing home sales showed.... In Charlotte, the pace of annual appreciation has also been slowing in recent months, although May reversed that trend as the average gain was higher than April’s 4.5 percent. Charlotte was the only U.S. city out of the 20 to post higher annual appreciation from April to May... Blitzer said he could not pinpoint a reason for Charlotte bucking the trend. Overall, he said, Charlotte’s housing market has been fairly stable as the economy in the Southeast fares better than some other parts of the U.S..... Tight supplies of homes on the market have been credited as a main driver of sizable annual price gains in Charlotte and elsewhere over the past year or so.... Supplies have risen in Charlotte since the start of the year, according to the Charlotte Regional Realtor Association. But as of June, the latest month for which data are available, inventory remained below a six-month supply, the level considered to be a balanced market.
Posted on: Wed, 30 Jul 2014 14:04:38 +0000
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