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, rose after falling for two consecutive months.  The number of pending sales at the beginning of February was 1,408 as compared to the beginning of January, which was at 1,189.  This represents an 18.4% increase over the previous month. 

Nine of the eleven markets included in the ENCHSI saw pending sales rise this month.  The only markets that saw a drop in pending sales were New Hanover and the Outer Banks.  Pending sales in New Hanover County fell less than 1% over the previous month, while the Outer Banks market saw pending sales fall by 10.7%.  The largest percentage increase in pending sales over the previous month was Carteret County, with a 48.1% increase.

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. 

Sales volume fell sharply in the ECNHSI for the second consecutive month. January sales volume was 27.1% lower than the previous month, but was 9.2% higher than January 2009 levels. The number of pending sales at the beginning of February increased 18.4% over the previous month. Inventory levels rose after falling for 5 consecutive months. There is 12.7 months of inventory on the market based on the average monthly sales volume of the previous 12 months and 7.7 months of new construction inventory on the market. For the full December 2009 ENCHSI report including graphs, click here.

The ENCHSI includes Beaufort, Camden, Chowan, Carteret, Craven, Currituck, Dare, Lenoir, Nash, Onslow, Pasquotank, Perquimans, Pitt, Wayne, and Wilson Counties. Data is taken from the local MLS in each county.