Shack's Corner

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 for the second consecutive month following the end of the home buyer tax credit. The number of pending sales at the beginning of July was 1,666 as compared to the beginning of June, which was at 2,017. This represents a 17.4% decrease over the previous month and a 30.8% drop over the past two months. Pending sales had risen sharply for four consecutive months prior to the end of the home buyer tax credit.

The number of pending sales fell in 10 of the 11 markets in the ENCHSI. Lenoir County was the sole county to not experience a drop as pending sales remained steady. The largest decrease was 34.7% in the Northeastern Counties.

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.