May 2013 showed continued growth in Pinehurst Real Estate area homes sales. In fact I believe an important bench mark was reached!
With the exception of June, 2010 we saw the first month of residential real estate sales in the Pinehurst NC area hit $30,000,000 for the first time since 2008. The June 2010 number was skewed by the home buyers credit offered by the government. Also, the month to month swing in overall sales seems to be less dramatic than in the previous 5 years.
Each month for the last 18 months or so we have seen steady increases in the number of homes sold as compared to the same month in the prior year. I think this is the most significant sign of a recovering real estate market in the Pinehurst area of North Carolina.
And next year with the Men’s and Women’s U.S. Open Championships being played here on the famous Pinehurst No. 2 golf course, we expect to see more increase in homes sold in the area and possibly price appreciation.
The market is favorable for both buyers and sellers right now. Interest rates are rising, but there are still some good rates out there for buyers. I believe in most cases, it is still less expensive for your monthly payment to buy vs. renting. Even though the prices on homes haven’t appreciated, they do not seem to be falling in most communities in the Pinehurst area, and homes do seem to be selling at a faster pace which is beneficial for Pinehurst area home sellers.