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Figures show downward trend continues in real estate

Homes sold, average sales price at lowest point since 2004The number of homes sold and the average price buyers paid continued to drop in figures compiled by the Rowan County Chamber of Commerce.
The 173 homes sold for the quarter ending March 31, 2008, marked the lowest number since the final quarter of 2004 when 148 homes sold. The average sales price of $125,271 also is the lowest figure since the first quarter of 2004 when the average was $122,217.
It doesn’t look any better on the building front: the number of building permits issued at 359 is the lowest of any quarter since the Chamber started the compiling the figures, going back at least until 2001.
Other economic indicators remained stable, with Rowan’s unemployment rate actually improving a little to 5.7 percent from a high of 6.9 percent nine months ago. The state jobless rate of 5 percent is the highest point in at least a year.
The list of economic indicators is sponsored by F&M Bank.

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