Home sales in N.C. retiree hotbeds plunge $3B, Wilmington leads fall

Residential sales in North Carolina retirement “hotspots” dropped by $3 billion in the past three years, according to a National Active Retirement Association (NARA) analysis of the North Carolina Association of Realtors’ sale statistics. Wilmington and Asheville accounted for $1.6 billion in that decline – reports the Greater Wilmington Business Journal.

“Aging boomer and retiree homebuyers flocked to the Asheville, Hendersonville and Brevard mountain area and the Wilmington coastal area in the mid-2000s,” said NARA executive director Dan Owens in press release. “The housing downturn in Asheville and Wilmington alone accounted for about a $1.6 billion housing drop – more than half of the total in the 2009 versus 2006 sales analysis.”

In 2006, Wilmington sold about $2 billion in residential home sales. In 2009, home sales in Wilmington dropped to $1 billion.

TO READ THE REST OF THIS STORY – CLICK HERE:
http://www.wilmingtonbiz.com/industry_news_details.php?id=1882