Moore County Inventory of Homes Continues to Drop

About a month ago, the number of single family of homes for sale in Moore County (which includes homes in Pinehurst and Southern Pines) dropped below 1,100 and as of my last post on Sept 9 was down to 1,096 homes. As of today (Oct 15), the inventory is down to 1,074. Normal for this time of year is 900, so we are still up 15-20%. But that is not bad when you think about markets in some parts of the country being up 200%, 300% or even more. Higher priced homes are just not moving - in part because jumbo interest rates are still higher than conventional rates and in part because home buyers are more risk averse than they were 2 or 3 years ago. If you want to keep track of the inventory number, sign up on www.twitter.com and follow my daily inventory posts at http://twitter.com/pinehurstnc more info about Pinehurst homes for sale, visit us on the web at http://www.mcdevitttownandcountry.com