October 8, 2008 1:22 PM

Charlotte home prices slumped 9 percent in September

The average price of Charlotte-area homes sold last month tumbled nearly 9 percent compared to last September. That's almost double the previous month's loss and by far the largest drop in nearly a year of declines. The average price of $214,927 last month was the lowest of any month since March 2006, well before the housing downturn began in the region.

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