New home sales in the New Bern area have been steady as compared to 2009. Through 8-20-2010 there have been 202 new home sales. There are currently 305 new homes listed in the MLS although some of these are proposed construction. Of these only 13 percent are over $200,000. All this equates to a 10-11 month inventory of new homes. The defination of a buyers market is over 6 months of homes for sale.
For the same time frame in 2009 there were 204 new home sales. At first glance it looks like sales this year are about the same as last. However, some builders are giving deep discounts to buyers. This is not healthy for anyone in the long run as it will hurt everyone's appraisals.