Outer Banks Real Estate Blog- Outer Banks Real Estate Market Continues To Recover
With 5 months of 2009 down I believe the Outer Banks real estate market is on the road to recovery. May was another strong month as buyers took advantage of the great deals that remain. Since reaching the bottom of the market in January of this year there has been on a steady upward trend in houses going under contract and closing. There are not as many foreclosures and short sales coming on the market which will help stabilize prices and many are now receiving multiple offers. The overall economy is looking a little better and the stock market is also coming off it's bottom. All of this plus low mortgage rates are making for tremendous buying opportunities on the Outer Banks.
To learn more about buying real estate on the Outer Banks email MattHuband@HometownOBX.com or call 252-255-0221
The chart below shows the market peak in August 2005 and the bottom in January 2009
