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Charlotte home prices down 0.7 percent

Home prices in the Charlotte metropolitan area fell 0.7 percent in December from November and 4.4 percent from a year ago, according to the Standard & Poor’s Case-Shiller Home Price Index released today.

Charlotte was one of 18 metropolitan statistical areas to see a decline in prices from December 2009 to December 2010 in the index, which tracks 20 MSAs. Only San Diego and Washington, D.C., had an increase.

From October to November, the Charlotte metro area had a decline of 0.7 percent in prices.

In the U.S., home prices fell 3.9 percent in the fourth quarter from the third quarter of last year. U.S. home prices were down 4.1 percent in the fourth quarter of 2010 from the same quarter in 2009, the lowest annual growth rate since the third quarter of 2009, when prices were falling at an 8.6 percent annual rate.

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