According to Charlotte's local newspaper, The Charlotte Observer, it was reported today that Charlotte home prices have dropped 0.1% in the past year. This is of course minor in comparison to cities across the nation however, I see the pain in local Realtor's faces. It is reported to continue to drop before it bottoms out and begins climbing again.
Charlotte was lucky to never have hit the bubble that other cities did such as Las Vegas, Miami and Detroit. Never being part of this bubble and a strong job market has largely attributed to a somewhat steady housing market during a slow economy.
Charlotte has been good to it's citizens. I feel lucky to live in such a well rounded City! Even though there is an evident change in the market, what goes down must come up. I'm confident the change will happen sooner rather than later.
For more infomation on Charlotte trends and home prices please visit my website at www.homanshomes.com or call me at 704-602-0459.
-Bill
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