Industry News

East Coast real estate shatters records

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Home sales in North Carolina and Virginia hit new highs during 2003, with resort communities and metropolitan areas reporting the greatest increases in closed transactions, according to the Realtors associations in both states. According to statistics compiled by the North Carolina Association of Realtors, 91,977 residential units were sold in 2003 on an adjusted basis, surpassing the previous year's figures by 16 percent. When combined with a 3 percent increase in the average sales price, total sales dollars for the year were up 19 percent to more than $17 billion....