by Michael Lowrey
The UPoR runs a Bloomberg story that kind of misses the point on the Charlotte housing market. The headline is “Home prices rise 4.3 percent in Charlotte over the year.” That sounds really impressive until you read the actual article:
The 5.5 percent increase in the S&P/Case-Shiller index of property values was the biggest year-over-year gain since August 2014 and followed a 5.1 percent advance in the previous month, the group said in a report Tuesday.
The median estimate of economists surveyed by Bloomberg called for a 5.2 percent increase. Nationally, prices rose 4.9 percent. In Charlotte, prices rose 4.3 percent.
If you look at the actual press release, you’ll see that Charlotte ranks 16th in home price appreciation of the 20 cities covered by the Case-Shiller study. Be nice if the UPoR did a follow-up story examining why the Charlotte housing market has lagged behind San Francisco, Denver, Portland, Dallas, Seattle, Miami, San Diego, Los Angeles, Tampa, Atlanta, Las Vegas, Detroit (!), Phoenix, and Boston over the past year.