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According to Standard & Poor’s research, home prices are continuing to drop from the levels they saw throughout 2010, even after the temporary increase in home prices during the month of July. In the study’s 20-city composite, which includes Charlotte, NC, prices rose 0.9% from June to July, but were down 4.1% when compared to July of 2010.
“All that extra buying activity…right before the tax credit deadline drove up home prices, so it makes sense that we’re still seeing a year-over-year decline,” said Ward, CEO of a real estate brokerage web site.
CLICK HERE to read more about the falling of prices in Charlotte and several other cities throughout the U.S.