National Level:
Sales of U.S. existing homes rose slightly in February for the first time since July 2007. However, prices posted a record drop from their year-ago level, but economists said it was unlikely the market had reached a bottom.
The National Association of REALTORS recently said that sales of previously owned homes rose 2.9 percent in February. While the rise broke a six-month streak of declining sales, prices continued to slip. The trade group said median prices fell 8.2 percent from their year-ago level to $195,900. It was the biggest year-to-year drop on record dating to 1968.
On the State Level, according to the North Carolina Association of REALTORS, existing home sales during March continued to show signs of improvement compared to the previous month with a 15 percent increase in both total units sold and total dollar sales. Existing home sales remained low when compared to the previous year, however, with a 25 percent decrease in percentage of units sold.
Brunswick County and Wilson posted the highest year-to-date sales growth with a 12 percent and 6 percent increase. Washington-Beaufort continued to lead the state with the largest appreciation at 37 percent followed by Wilmington, Greenville and Fayetteville with a 30 percent, 8 percent and 7 percent increase, respectively.
On our Local Level here in the New Bern MLS, the number of home sales for March was down 36% from the prior year, and the average sales price was down 4%.
For more information on the New Bern market, visit my website at http://www.newbernhomes.com/ or email me!
