Good News For Charlotte Housing Prices

Vinnee Tong of the Associated Press recently wrote how Charlotte home prices were actually up. We were the only market to show gains. Obviously this is good news for us but we still have challenges in our area. I continue to see properties, even those which are well priced, stay on the market longer. With that in mind buyers continue to be in a strong position which has not always been the case in Uptown Charlotte. Charlotte center city is a great place to live and now is a good time to find your perfect home or condo.

Charlotte housing prices defy trend

Queen City the only exception as values slide in 20 other U.S. cities

VINNEE TONG
Associated Press

Home prices in many cities continued to plunge by record levels in January as sellers cut their asking bids and rising foreclosures took their toll -- except in Charlotte, new data showed Tuesday.

Only Charlotte squeaked by as a gainer in the Case-Shiller index, with a 1.8 percent rise in January compared to a year earlier.

Bob Morgan, president of the Charlotte Chamber, said the news is a positive reflection on the Charlotte area's economy.

"I think it says we're very fortunate in Charlotte that we're continuing to attract new jobs and that our population is growing," he told the Observer.

Real estate agents and local officials cited Charlotte's history of more modest house price growth during the boom years as reasons the market was holding up now.

"We've never seen the huge double-digit appreciation," said Dot Munson, president of the Charlotte Regional Realtor Association. "We have less of a correction to make than most other markets."