N.C. Existing Home Sales Decline

Posted August 22, 2007 2:26 p.m. EDT

— Sales of existing homes in North Carolina dropped 13 percent in July from a year ago, reflecting the national housing market recession, the North Carolina Association of Realtors said Wednesday.

According to statistics compiled by the association, 12,006 units were sold statewide in July, compared with 13,795 a year ago. The July 2007 sales totaled $2.73 billion, down from $3.05 billion last year.

But the average existing home sales price was up 3 percent from last year, to $227,699, the association said.

For the year to date, existing home sales statewide are down 8 percent.