New Bern, North Carolina: "Inventory Starting to Stabilize?"

The amount of housing for sale in the area around New Bern NC has not started to decline yet.

The present run up in inventory started in late 2006. The highest number of homes for sale occurred in July of 2008 at 1577. The largest amount of inventory prior to July 2008 was October 2007 with 1575 units for sale.

With that being said, I think we are beginning to see some stabilization in the local market. June numbers were 1569 and July 1577 an increase of +8. This is the smallest monthly increase in 12 months.

Sales while trending below 2007 all year, seem to indicate a 1600+ unit sales year.

Absorption rates stand at a 11.97 months supply of houses for sale, the lowest in 5 months.