CoreLogic, an Irvine, Calif.-based company that provides monthly reports on housing prices, said Charlotte rose 7% in the Charlotte-Gastonia-Rock Hill area in March from the same month a year ago.

Also, the Charlotte Regional Realtor Association reported that Charlotte-area home prices increased by 1.1% on average in April from the same month last year, as inventory continues to dwindle.

According to the preliminary data from the association, the average sales price in April rose to $217,166 from $214,739 in April 2012. The number of sales increased 34% year-over-year, to 2,915 from 2,168, writes the Charlotte Observer.