Charlotte Market 4th Smallest National Drop

‘Even with the current market downturn, the multi-faceted strength of our market has traditionally been reasonable appreciation, affordability, and transition.  While there are many deeply discounted homes available now in the form of builder inventory and foreclosed homes, our strong market has resulted in great news for most homeowners,’ adds Chrystal Safari, Luxury Home Specialist with Peters & Associates, Incorporated, Charlotte, NC.  

The Charlotte Business Journal reported June 30, 2009, Charlotte-area home prices are down 10% in April from a year earlier. Prices rose 0.5 percent in April from March.

The 10 percent price decline for the past 12 months was the fourth-smallest among the 20 markets tracked by the Standard & Poor’s/Case-Shiller Home Price Index.

Denver had the healthiest market of the 20 cities, with a 4.9 percent drop in home prices from April 2008. Dallas ranked second (down 5 percent). Boston was third (down 7.7 percent). The overall index of the 20 cities saw an 18.1 percent price decline. Phoenix was the weakest market, with a price drop of 35.3 percent, followed by Las Vegas (down 32.2 percent) and San Francisco (down 28 percent).

The index says as of April, average home prices across the United States were at similar levels to what they were in the middle of 2003.

From the peak in the second quarter of 2006, average home prices in the 20 markets are down 32.6 percent. The S&P/Case-Shiller Home Price Index tracks sales prices of typical single-family homes in leading metropolitan areas.

Chrystal shares, ‘Affordability is still key.  Many homes at all price points are ready now.  Rates are still great.  There are loan programs out there with 85% Loan to Value, with no MPI.  If you’re in the market for your next owner occupant home or would like to add to your rental/investment portfolio call me.  I’m at your service.’

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Living, playing, and working in south Charlotte for over 27 years, and with over 14 years experience in the real estate field as an investor and Luxury Home Specialist, I have the knowledge, experience and discretion you need to maximize your return on investment whether for your personal home, investment portfolio, or small business property.  Contact me at Chrystal.Safari@gmail.com