Pending home sales rose sharply in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®. Contracts signed in February, rose 8.2 percent above February 2009. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. "The rise in pending sales may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten. We need a second surge to reduce inventory and stabilize home values."
Let's look at March real estate sales to see how the Greenville NC real estate market is faring.
Greenville NC real estate sales statistics for March show that the average sales price has decreased by 9% to $163,119. While pending sales increased by 28% when compared to March 2009. Sold listings increased by 12% from 2009. Market times have increased by 11 days or 8% from 2009.
|
Date |
New |
Pending |
Sold |
Average |
DOM |
|
Mar 2010 |
188 |
96 |
60 |
$163,119 |
146 |
|
Mar 2009 |
112 |
69 |
53 |
$178,380 |
135 |
As Mr. Yun said and these statistics show a second surge in home sales maybe coming this spring, which will help reduce inventory and stabilze home prices.
Learn more about the Greenville NC real estate market by visiting our websites, LizFreeman.com and LizFreemanHomes.com.
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Information is provided by the Greenville Multiple Listing Service and is deemed accurate but not guaranteed.
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