I ran the real estate sales statistics for the Pinehurst area a couple of weeks ago for the end of July. I re-did them today because there are always postings later than the actual date of closings and sure enough 3 more sales had been posted for July. It seemed like activity was up during the month, but the actual sales were below last July and also below June of this year. With the exception of last year because of the Tax Credit expiration, it is unusual for July to dip below June.
Due to the slow growth in real estate sales in Pinehurst and all of Moore County and continued additions to the housing inventory – buyers are at an advantage as there are many homes from which to choose and there is still some downward pressure in pricing. Another huge advantage for buyers is the current interest rates. Last week I received an update from a local Pinehurst lender with 30 conventional rates below 4%.
Sellers are waiting for the real estate market to rebound in Pinehurst – but the buyer still has the advantage!