Charlotte-area home prices rose 8.7 percent in November from a year ago, as the region continued its trend of strong annual appreciation, according to figures released Tuesday.
All 20 cities tracked by the Standard & Poor’s Case-Shiller index recorded annual gains. Nationally, prices rose 13.7 percent, their best November showing since 2005.
“November was a good month for home prices,” David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. Beginning June 2012, U.S. home prices have risen steadily on a year-over-year basis, he said.
In Charlotte and elsewhere, low supplies of homes for sale have helped boost prices as they recovered from lows hit in the housing downturn. In November, inventory in the region stood at a 5-month supply, according to the Charlotte Regional Realtor Association. A six-month supply is considered healthy.
Prices in the Charlotte region remain above lows hit during the depths of the downturn, according to the widely watched Case-Shiller index. But prices have not returned to pre-downturn levels.
Nationwide, prices declined in November from October. Home prices tend to fall in the winter, as the housing market slows. In Charlotte, prices fell 0.6 percent.
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