Charlotte/Lake Norman homes reach lowest prices in years - Charlotte Real Estate

Charlotte Home Prices reach their lowest in Years.

If you are looking to move to the Charlotte/Lake Norman area now is the time to start your search. In a recent article that I attached below Charlotte is one of several cities that have hit their lowest levels in years.

Living in the Lake Norman area for many years I have seen some of the best prices for waterfront living. Uptown Charlotte condos are also seeing dramatic price drops. Condos once priced in the $500's are now priced below $300k.

lThe S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. The indices are calculated monthly and published with a two month lag.

U.S. Home Prices Keep Weakening as Eight Cities Reach New Lows
According to the S&P/Case-Shiller Home Price Indices

New York, January 25, 2011 - Data through November 2010, released today by Standard & Poor's for
its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show a deceleration
in the annual growth rates in 17 of the 20 MSAs and the 10- and 20-City Composites compared to what
was reported for October 2010. The 10-City Composite was down 0.4% and the 20-City Composite fell
1.6% from their November 2009 levels. Home prices fell in 19 of 20 MSAs and both Composites in
November from their October levels. In November, only four MSAs - Los Angeles, San Diego, San
Francisco and Washington DC - showed year-over-year gains. The Composite indices remain above
their spring 2009 lows; however, eight markets - Atlanta, Charlotte, Detroit, Las Vegas, Miami, Portland
(OR), Seattle and Tampa - hit their lowest levels since home prices peaked in 2006 and 2007, meaning
that average home prices in those markets have fallen even further than the lows set in the spring of 2009.