Experts make forecasts for local housing market in 2017

WILMINGTON, NC (WWAY) — Experts made their housing industry predictions Thursday morning, during the 2017 Housing Forecast, Insights and Challenges.

The meeting was a chance to get the real estate community up to date with what’s happening in the housing industry and what’s to come on the local and national level.

Regional Director of Metrostudy Jay Colvin was the feature speaker. Overall, he says Wilmington is expected to have another strong year.

According to the President of Cape Fear Realtors Neal Johnson January set a record for Wilmington home sales with 601 units sold. That’s the most homes sold in January ever.

The high demand, however, is making it more expensive to move and live here.

“Anything associated with building or developing homes has become more costly, so that makes it more expensive to build homes and more expensive for the buyer,” he said.

Because of this, Colvin said it’s a great time to sell your home.

Categories: Local, New Hanover

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