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Charlotte home prices rise 6.9%

Charlotte-area home prices rose 6.9 percent in April from a year ago, as low supplies of properties for sale continued to drive prices higher nationwide, a report Tuesday showed.

The region’s home prices climbed 1.1 percent from March, according to the report from real estate data firm CoreLogic. The figures are based on repeat sales of distressed and nondistressed properties.

Nationwide, home prices are expected to keep rising this year, as the inventory of homes on the market remains tight, Sam Khater, deputy chief economist for the Irvine, Calif.-based company, said in a statement.

Prices nationally jumped 10.5 percent from April 2013 for the 26 month in a row of consecutive year-over-year gains, CoreLogic said. Prices increased 2.1 percent from March.

Like other companies that track the U.S. housing market, CoreLogic says that annual gains in home prices have been slowing.

The national rate of annual appreciation in April marked the slowest pace in 14 months, according to CoreLogic.

CoreLogic projects U.S. home prices will increase about 6.3 percent in May from the same month last year and 1 percent from April.

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