Shack's Corner

November sales volume was 2.4% lower than the previous month and was 58.5% higher than November 2008 levels, when sales fell drastically as a result of the credit crisis. The number of pending sales at the beginning of December fell 21.8% over the previous month. Inventory levels fell for the fourth straight month, but still remain high. There is 13.2 months of inventory on the market based on the average monthly sales volume of the previous 12 months and 8.3 months of new construction inventory on the market.  For the full December 2009 ENCHSI report including graphs, click here.

December inventory levels in the Eastern North Carolina Home Sales Index is at 13.2 months based on the previous 12 months sales volume.  This marks the fourth consecutive month of falling inventory in the ENCHSI and is 3.6% lower than the inventory levels from a month earlier.  Inventory levels fell in each of the 11 markets included in the ENCHSI.  New construction inventory also fell to 8.3 months. 

The Eastern North Carolina Home Sales Index includes the following counties:  Beaufort, Carteret, Craven, Lenoir, Nash, the Northeastern Counties, (Camden, Chowan, Pasquotank, and Perquimans) Onslow, the Outer Banks, (Dare and Currituck) Pitt, Wayne, and Wilson. 

In the latest Eastern North Carolina Home Sales Index, pending sales, a key indicator of sales that will take place over the next 30-45 days, fell sharply for the beginning of December as compared to the previous month.  The number of pending sales at the beginning of December was 1,326 as compared to the beginning of November, which was at 1,695.  This represents a 21.8% drop.  10 of the 11 markets included in the ENCHSI saw pending sales fall this month.  The only market that didn't have a drop in pending sales was Wilson, where the number of pending sales increased to 106 from 105 the previous month

The Eastern North Carolina Home Sales Index includes the following counties:  Beaufort, Carteret, Craven, Lenoir, Nash, the Northeastern Counties, (Camden, Chowan, Pasquotank, and Perquimans) Onslow, the Outer Banks, (Dare and Currituck) Pitt, Wayne, and Wilson.