The Outer Banks as a housing market, has held its own compared to all the other markets. Depending on how the numbers are viewed, the average selling price. If you have been thinking about buying an Outer Banks vacation home, investment property, or permanent home, now is the time to act as homes continue to rise in. Ultra-hot OBX real estate market rolls on, record sales three months in a row! COVID shut us down in March, we have made up for lost time.
Outer banks real estate market trends -
Observers say there are a number of reasons for the booming housing market, one of course being low interest rates. The inventory of properties coning on the market is not keeping pace with sales. As stated, above mortgage rates are low and lenders are loosening up requirements. The outlook for the Outer Banks real estate market appears to be very strong as buyers are still pouring into the market with no signs of a slowdown. For a year conventional loan, rates begin this year around 5. In July, sales themselves set a new record, with properties changing hands — breaking the old May mark of Homes are Selling Quickly The number of days an Outer Banks home remains on the market is rapidly decreasing, and demand is steadily increasing. Unsold inventory sits at an all-time low 1. It is the inquiries about new homes, though, that stand out. Many rental companies are booked for the shoulder months. In July, sales themselves set a new record, with properties changing hands — breaking the old May mark of Although higher rates are not ideal from a home-buying outer banks real estate market trends,
mortgage lenders have been relaxing loan requirements and offering larger loans for less money down, for qualified buyers. Others want to know about the recovery we may, or may not, be in.