Industry News

Southeast U.S. real estate markets post mixed sales

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Home sales in North Carolina and the Greater Nashville, Tenn., area posted mixed results in the last two months but were still on track to break last year's records, according to Realtor associations in both states. Sales of existing homes in North Carolina lost some steam in August, with 10,970 residential units sold, according to the North Carolina Association of Realtors. This is 17 percent higher than sales posted during August 2003, but 8 percent lower than sales in July of this year. More than 75,000 units in North Carolina have been sold on a year-to-date basis, an increase of 23 percent from sales posted during the first eight months of 2003. The average sales price increased 5 percent during the same time period to $193,424. The average existing-home sales price was $194,380 in August, the association reported. Areas of the state with the strongest year-to-date sales growth and price appreciation continue to be along the coast. Brunswick County leads the way with a 51 percen...