Wilmington NC Home Sales Increase 13%

Wilmington NC home sales finished last year with an increase of nearly 13 percent over 2014, according to statistics released Monday by the Wilmington Regional Association of Realtors.

The number of Wilmington NC home sales increased by 849 in 2015, from 6,555 to 7,404 in a nearly 13 percent jump, as buyers took advantage of historically low interest rates in a market where some price points are in shorter supply. The figure is the highest year-end number for units sold since 2006, WRAR’s Multiple Listing Service statistics show.

“We’re gaining ground,” said Don Harris, the 2016 president of WRAR.

He said he expects the direction to continue this year. “Interest rates are still low,” Harris said, noting a recent quote of 4.125 percent.

The rates for Wilmington NC home sales are forecast to increase a little, possibly by the fourth quarter of this year, he said. (more…)