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.  The number of pending sales at the beginning of January was 1,189 as compared to the beginning of December, which was at 1,326.  This represents a 10.3% drop over the previous month and a 29.9% as compared to the number of pending sales at the beginning of November.  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 Onslow, where the number of pending sales increased to 329 from 326 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. 

December sales volume was 20.3% lower than the previous month and was 5.1% higher than December 2008 levels. The number of pending sales at the beginning of January fell 10.3% over the previous month. Inventory levels fell for the fifth straight month, but still remain high. There is 12 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.