The Wall Street Journal reported that new-home sales increased 11% in June from the previous month, the third increase in a row. Sales rose to 384,000 at a seasonally adjusted annual rate, the highest level since November, supplying fresh evidence housing is beginning to stabilize after falling off a cliff late last year. Year-over-year, new-home sales were 21% lower than the level in June 2008.
In Moore County, NC area, we witnessed an increase from 56 homes sold in May at an average price of $226,197 to 84 in June at an average price of $251,602. Interesting to note that in June 08, there were 81 homes sold at an average price of $284,843.
This information further confirms that all real estate is local... For localized and market specific information go to www.PinehurstRealEstate.us and/or contact us.
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With our highest regard,
Wayne and Lynda Gomillion
"The Pinehurst Home Team"
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