Industry News

East Coast real estate sales not all gloomy

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Despite another month of double-digit drops in home sales across Florida and Massachusetts, the North Carolina market maintained growth, albeit at a much slower pace, according to statistics provided by Realtor associations in those states. Existing-home sales in North Carolina eked out a 0.06 percent gain last month, while sales dropped 31 percent in Florida and 9.9 percent in Massachusetts. Last month was the first month since January 2005 that North Carolina sales did not post double-digit growth. According to statistics compiled by the North Carolina Association of Realtors, 11,334 residential units were sold in April, up slightly from 11,327 sold a year earlier. The average existing-home sales price was up 4 percent to $211,504. In Florida, the housing sector continued to show signs of market adjustments in April as mortgage rates edged up and the inventory of homes available for sale remained at higher levels in many markets, according to the Florida Associati...