CHARLOTTE, N.C. — A key national housing index released on Tuesday holds what is likely to be viewed as welcome news for local homebuyers: a continued slowdown in annual home-price gains.
The latest S&P Corelogic Case-Shiller index shows that home prices in the Charlotte market rose at a rate of 5.2% in August over the previous year. That’s down from a 6.8% annual price increase in August 2017, and it’s also lower than the 5.6% increase posted in the month of July.
The gains seen in home prices also were smaller on a national level, dropping to 5.8% in August. The 20-city composite posted an annual price increase of 5.5%, while the 10-city measure saw price gains slow to a pace of 5.1%.
The report on the Case-Shiller results notes that national home-price gains on a year-over-year basis fell below 6% for the first time in a year.
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