Posted: Tuesday, Jul. 28, 2009
Charlotte-area home prices posted their best monthly gain in a year in May, based on results of a closely watched home price index released this morning.
Area sales prices remain in negative territory compared with a year ago, but rose 0.9 percent from April to May, according to the S&P/Case-Shiller Home Price Index. That was the second monthly gain in three months and was almost as big as the monthly rise in May 2008. The increase comes as the broader index also has been showing signs of improvement for several months.
“This could be an indication that home price declines are finally stabilizing,” said David Blitzer, chairman of S&P’s index committee.
Compared with a year ago, Charlotte-area prices remain down 10 percent, but that’s a lot better than some of the 20 urban markets tracked by the index.
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