Industry News

North Carolina remains a hotspot for real estate

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Despite another month of double-digit drops in home sales across Massachusetts and Virginia, sales in North Carolina continued to defy the East Coast slowdown, according to Realtor associations in those states. In North Carolina, existing-home sales gained 7 percent in June from the same month last year. According to statistics compiled by the North Carolina Association of Realtors, 14,959 residential units were sold in June, up from 14,044 in June 2005. The state's average existing-home sales price, however, dropped 25 percent from a year ago, falling from $217,454 to $163,162. Unlike 2005, which saw mountain and coastal regions leading the state in positive growth, many previously hot coastal areas are cooling down in both unit sales and prices. Coastal regions seeing a downturn in total dollar sales include Brunswick County and the Outer Banks at -57 percent and -47 percent, respectively. Additionally, the hot Charlotte market is leveling out with an 86 percent downturn in total ...