Business

Home prices fall, but more were sold in March

Posted April 30, 2009 11:38 a.m. EDT

— Homes in the Triangle sold for 3 percent less during March than in the same month a year ago, according to data released by the N.C. Association of Realtors Thursday. The drop is right in line with the national average.

Sale prices of existing homes also dropped in Rocky Mount, Goldsboro, Hendersonville and Pinehurst. Haywood County saw the most precipitous decline, with sale prices of existing homes down 26 percent in March from 2008. Statewide, prices are off 9 percent.

The number of homes being sold is also down from March 2008, by 31 percent in the Triangle and 29 percent statewide.

The good news is that while the year-to-year comparison shows a drop, prices and units sold may be making a turn for the better. From February to March of this year, 60 percent more homes were sold in the Triangle and 30 percent more statewide. More homes were sold in March in all but two of the markets the Realtors group reported on.