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Real Estate - Residential

Realtors, Homebuilders To Present Yearly Economic And Housing Report

By Cece Nunn, posted May 25, 2018

This year’s annual Cape Fear Area Economic & Housing Report will be released Wednesday, as part of a collaborative effort by Cape Fear Realtors and the Wilmington-Cape Fear Home Builders Association.

The information will be shared at 10 a.m. Wednesday at The Terraces on Sir Tyler, according to a news release. 

"The report will present important data in the real estate and economic sectors that spans over 10 years and affects Wilmington and the surrounding areas," the release stated. 

As part of the presentation, economist Woody Hall, CFR 2018 President Fred Gainey and the WCFHBA 2018 President Dave Spetrino are set to weigh in on how the local area and national and local gross domestic product (GDP) factor into the housing market, and which leading indicators will spark trends toward the future.

Both CFR and the Brunswick County Association of Realtors reported gains in home sales in April. New Hanover, Brunswick and Pender counties saw a 16 percent increase from last April in the number of single-family homes sold, according to CFR statistics from the N.C. Regional Mulitple Listing Service.

And BCAR reported earlier this month that in April, average sale prices, total sales volume and new listings were on the rise, while available inventory remained tight. Brunswick alone saw a 29 percent increase in the number of homes sold last month compared to the same month in 2017, BCAR statistics showed.

During last year's report presentation, officials noted that the housing market in 2016 and 2017 was strong in the Wilmington area, but concerns included a lack of inventory and the affordability of homes.

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