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Charlotte Home Prices are now Falling


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It was on several TV news casts last night as well, so the stats are valid, though still minor and better than all other markets. We just don't have the overvaluation that is present everywhere else, so this will never be a real issue in the CLT metro. What would probably be more significant to these numbers are if Wach executives/upper mgmt and those from supporting companies move away due to it's collapse or purchase by an American competitor.

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The real test will be if, or when, the influx of newcomers slows. If it doesn't that will mitigate sharp declines as people that move here must live somewhere regardless of whether they rent or buy. This is considered one of the major reasons we've stayed strong throughout this mess. The other is our overall appreciation for the past few years (yes, there are pockets of exception, just talking the metro area as a whole) was never very high -- just steady.

One can't be surprised by this news though -- and most expect this to be consistent for the rest of year.

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