Triad, state home sales fall in September
Here's some news you likely expected: Existing home sales fell in the Triad - and throughout the state - last month, according to a report out today from the state's Realtors group.
Sales of existing homes statewide fell 22 percent in September, when compared to the same month last year. Statewide, 9,267 existing homes sold during the month, at an average price of $228,072.
People I talked to with the N.C. Association of Realtors wouldn't speculate on reasons for the 8 percent jump in the average sales price between September of last year and September of this year.
It's likely part of that, though, can be chalked up to buyers of less expensive homes shying away from purchases as they find it harder to get loans. But I've also talked to a number of people who study the local real estate market and question the methodology used to arrive at some of these year-over-year figures.
Regardless, the Realtors group saw some gloom here in the Triad, where existing home sales fell 28 percent from September 2006 to September '07, according to the report. About 1,140 such homes sold in the region last month, compared to about 1,580 during the same month last year. Total sales dollars for September were $204,614,985 - down 27 percent from a year prior.
The average sale price for an existing home here was up just 2 percent last month, according to today's report.