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Charlotte: Job market improves but shadow inventory looms

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Downtown Charlotte, N.C. Flicker image courtesy of jacreative.In March, the Charlotte, N.C., housing market had one of those good news/no news months. The good news was that closed home sales that month leapt upward by 43 percent compared to the previous before. The "no news" was that, compared to one year earlier, March sales essentially were flat, according to data in a report from the Charlotte Regional Realtor Association, which said that year-over-year closings had increased by 0.2 percent. Year-over-year sales prices eroded slightly in March, according to the trade group's report. The average sales price for March 2011, at $194,465, was down 1.6 percent from its March 2010 average price, $197,564. The median price performed similarly, declining 1.3 percent year-over-year, according to the group. The Standard & Poor's/Case-Shiller Home Price Index, which was released Tuesday, showed February home sale prices in metropolitan Charlotte and nine other areas...