October 16, 2019, WALTHAM, Mass. — The Home Value Forecast for October takes us south of the Mason-Dixon line to North Carolina, where three metros have made our Top 10 Hottest Housing Markets list. The Tar Heel State is in the middle of a housing boom, so to speak.
Three North Carolina CBSAs – Jacksonville, Wilmington and Virginia Beach-Norfolk-Newport News, VA-NC – are seeing prices rising and at or near all-time highs. While prices are on the rise, affordability is still relatively high for the region as well, making home ownership a viable option.
“Wilmington, NC, has had the biggest swings in price of the three, with gains since 2012 tracking with increased employment,” said Tom O’Grady, CEO of Pro Teck Valuation Intelligence. “But as demand increases, prices also tend to increase in correlation, especially at the lower “starter home” end of the market. With Wilmington home prices hitting a higher average, we expect his trend to continue.”
Click here to read the entire report, including data and graphs that further highlight market trends discussed in this release.
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