The recent Charlotte Observer Article says that home prices in Charlotte and around the country climbed in May from the month before, but prices remained down from the previous year, a sign the improvement might be related to seasonal fluctuations rather than economic recovery.
Prices in the metro area increased 0.8 percent from April and fell 5.1 percent from May 2010, according to the closely watched S&P/Case-Shiller Home Price Index.
Despite the widespread improvement, Standard & Poor's index committee chairman David Blitzer was hesitant to celebrate.
Despite the widespread improvement, Standard & Poor's index committee chairman David Blitzer was hesitant to celebrate.
"This is a seasonal period of stronger demand for houses, so monthly price increases are to be expected," he said.
The latest data from the Charlotte Regional Realtor Association show local home sales fell 8 percent in June from June 2010. The median selling price fell 3.7 percent to $156,750. But the number of pending residential contracts - home sales that haven't yet closed, a good predictor of future activity - jumped 18 percent in June, the Realtor association data show.
The latest data from the Charlotte Regional Realtor Association show local home sales fell 8 percent in June from June 2010. The median selling price fell 3.7 percent to $156,750. But the number of pending residential contracts - home sales that haven't yet closed, a good predictor of future activity - jumped 18 percent in June, the Realtor association data show.
