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Report: Charlotte-area home prices drop 4.2 percent

Charlotte-area home prices fell 4.2 percent in March from February 2010, more than the 3.8 percent U.S. decline, according to a report released today by Truckee, Calif.-based Clear Capital.

But for the four months that ended in February, Charlotte-area home prices rose 0.1 percent over the previous three months, earning it a ranking of 13 on the list of 15 highest-performing major markets. Over the same period, U.S. home prices fell 1.4 percent.

The Charlotte area, which the report defines as Charlotte, Gastonia and Concord, has a 16.2 percent saturation of real estate-owned properties.

The Raleigh and Cary area was 3rd on the list of the lowest-performing major markets, with a 10.5 percent decline in prices for the four months that ended in February compared with the previous three months.

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