Weakness shows in numbers of homes sold, average price
Other economic numbers stable for fourth quarterThe number of homes sold and the average price buyers paid both showed a drop in the most recent figures compiled by the Rowan County Chamber of Commerce.
The 211 homes sold for the quarter ending Dec. 31, 2007, marked the lowest number since the same quarter of 2004.
The average sales price of $142,181 didn’t show as big a drop but was the lowest since the quarter ending June 30, 2006, when the average was $135,727.
Trouble in housing markets has been evident in many places across the nation as the fallout that started with subprime loans spreads.
Most other economic indicators remained stable, though Chamber of Commerce President Bob Wright noted the figures only tell what was going on in the last three months of 2007 so there is some lag time on what is happening with the economy at the moment.
The list of economic indicators is sponsored by F&M Bank.