Another month, another record set for local home-price gains tracked by the S&P CoreLogic Case-Shiller index.
The Charlotte Business Journal reports the region in December logged a 23.8% year-over-year increase in home prices, according to that index, out this week. It is based on a three-month, rolling average of repeat single-family home sales.
The Charlotte Region saw prices continue to grow over the year at a faster rate than the nation as a whole. In December, the national composite posted an 18.8% increase — unchanged from the previous month. The 20-city measure had an 18.6% gain — up from 18.3% from November. The 10-city composite recorded a 17% increase — up from 16.9% in the prior month.
Of the 20 markets tracked by Case-Shiller, seven had higher year-over-year price growth than Charlotte. Those markets were Phoenix, with a 32.5% increase; Tampa, Florida, at 29.4%; Miami, at 27.3%; Dallas, at 26%; San Diego, at 25.9%; Las Vegas, at 25.5%; and Seattle, at 23.9%.
Home-price growth in the Charlotte area, exacerbated by a severely depleted housing inventory, more than doubled its pace from December 2020 — when annual price gains came in at 10.2%. It was up slightly from 22.9% in November of last year.
The Charlotte Business Journal outlines how annual home-price gains in the Charlotte metro area have trended over the past year, according to the Case-Shiller index. The full article can be found here.
