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Home Values are up in Charlotte!

Dec. 26, 2007 Along with Charlotte, Portland, Ore. and Seattle posted year-over-year home price appreciation in October, with Charlotte posting the largest gains at 4.3 percent, according to the Standard & Poor's/Case-Shiller home price index released Wednesday.

Among the three, only Charlotte is likely to be saved from declining house prices within the coming few months, because the area has not seen periods of rapid appreciation like the other markets. That is because we never jumped very high like other areas and we don't have a hard fall as other places.

The index found that nationwide, U.S. home prices fell in October for the 10th consecutive month, posting their biggest monthly decline since early 1991.

Leading the index lower was Miami, where prices fell 12.4 percent in October compared to the same month last year. That led it to surpass Tampa, Fla. as the worst-performing city. Tampa posted a year-over-year loss of 11.8 percent. Besides those two cities, Detroit, Las Vegas, Phoenix and San Diego also posted double-digit year-over-year declines. Atlanta and Dallas, which had previously posted price appreciation, fell in October. Prices fell 0.7 percent in Atlanta and 0.1 percent in Dallas compared to a year earlier

Monthly Housing Market Report: 1-year price change

RPX

 

 

S&P/Case-Shiller

Metro Area

Price per sq. ft.

% Change

Metro Area

% Change

Sacramento, CA

$190.44

-18.2%

N/A

N/A

St. Louis, MO

$90.60

-18.0%

N/A

N/A

Las Vegas, NV

$158.11

-14.0%

Las Vegas

-10.7%

Jacksonville, FL*

$118.19

-12.6%

N/A

N/A

San Diego, CA

$294.01

-12.2%

San Diego

-11.1%

Tampa, FL

$127.91

-9.5%

N/A

N/A

Miami, FL

$184.35

-9.2%

Miami

-12.4%

Atlanta, GA

$94.03

-7.9%

Atlanta

-0.7%

Chicago, lL

$169.82

-7.6%

Chicago

-3.2%

Phoenix, AZ

$144.36

-7.2%

Phoenix

-10.6%

Detroit, MI

$104.59

-6.8%

Detroit

-11.2%

Los Angeles, CA

$364.84

-6.8%

Los Angeles

-8.8%

Denver, CO

$139.97

-5.5%

Denver

-1.8%

Boston, MA

$220.86

-5.0%

Boston

-3.6%

Washington, DC

$229.11

-4.4%

Washington

-7.0%

Columbus, OH

$93.26

-3.0%

N/A

N/A

Cleveland, OH

$91.11

-2.2%

Cleveland

-4.5%

Minneapolis, MN

$153.53

-1.5%

N/A

N/A

San Jose, CA

$456.27

-1.2%

N/A

N/A

Philadelphia, PA

$149.83

-0.1%

N/A

N/A

San Francisco, CA

$436.83

0.6%

San Francisco

-6.2%

Milwaukee, WI

$110.56

0.9%

N/A

N/A

Seattle, WA

$221.56

1.2%

Seattle

3.3%

New York, NY

$289.84

2.7%

New York

-4.1%

Charlotte, NC

$97.32

4.6%

Charlotte

4.3%

*Year-over-year change may be exaggerated due to reporting delay.
Source: 28-day RPX Index value for each metro area as of Sept. 28, Radar Logic Inc.; Standard & Poor's/Case Shiller October data.

Angie Adams www.AngiesWeb.com

Published Friday, December 28, 2007 8:16 PM by Angie Adams NC/SC REALTOR® Broker

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