CHARLOTTE, N.C. -- Home sales are dropping in Charlotte, but prices are still increasing.

• Last month, home sales dropped nearly 10 percent compared to the same month last year.
• It’s the sixth month in a row year over year sales have dropped.
• At the same time, list price went up 5.6 percent and sales price jumped 6 percent.

Last month, home sales dropped nearly 10 percent compared to the same month last year, according to the Charlotte Regional Realtors Association.  

It’s the sixth month in a row year over year sales have dropped.

But at the same time, list price went up 5.6 percent and sales price jumped 6 percent.

The Charlotte Regional Realtors Association says the trends are caused by a lack of housing inventory.

“There’s not as many folks in that building field as there used to be before the recession. So developers are not able to hire as many people as they would like to hire right now,” president of the Charlotte Regional Realtors Association Jason Gentry said. He also blamed the lack of housing inventory on a lack of land in the area.

The association says inventory dropped 8.7 percent year over year in October, with only two-and-a-half months of supply of home inventory on the market.