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Charlotte home prices drop 5.1 percent in May

Charlotte home prices fell 5.1 percent in May from May 2010, according to Standard & Poor’s Case-Shiller home price index.

The city’s home prices were up 0.8 percent in May from April.

Home prices fell over the year in 19 of 20 metro areas tracked by the report, with the exception of Washington, D.C., which had a 1.3 percent increase in May from the same month last year.

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