Posted on June 26, 2012 at 10:15 AM
CHARLOTTE, N.C. -- Charlotte home prices increased for the fifth straight month in April, and were up over the same month last year for the second straight month, according to data from the Standard & Poor’s/Case-Shiller Home Price Index released Tuesday.
The city’s home prices were up 0.9 percent over March and 0.75 percent over April 2011.
Nationally, the index of 20 cities was up 0.67 percent in April over March and down 1.9 percent over last April -- both measures better than analysts had expected.
Charlotte was one of 10 cities to have home prices increase over last year. None of the 20 cities hit new lows in April.
“It has been a long time since we enjoyed such broadbased gains,” S&P index committee chairman David M. Blitzer said in a statement.
“While one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a good sign.
He said that while spring and early summer are traditionally the strongest buying months, there was some indication that improving data reflected more than seasonal gains.