Wilmington home prices on rise

WILMINGTON, NC (WWAY) — If you’re hoping to make money selling your home, things are looking up. Home values are on the rise in Wilmington, according to data released today.

CoreLogic reports data show home prices in Wilmington rose by 6.3 percent in March compared with this same time last year. On a month-over-month basis, home prices increased by 0.6 percent in March compared with February.

The Wilmington rate slightly trails the national rate. CoreLogic reports that national home prices increased by 6.7 percent in March compared to a year ago and 2.1 percent compared to the previous month.

CoreLogic projects home prices will continue to increase with a forecasted 5.3 percent rise from March of this year to March of next year.

“Housing helped keep US economic growth afloat in the first quarter of 2016 with residential investment recording its strongest gain since the end of 2012,” CoreLogic Chief Economist Frank Nothaft said in a news release. “Low interest rates and increased home building suggest that housing will continue to be a growth driver.”