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Year-end statistics show the Cape Fear region sold the most homes in 2016 in over a decade. The uplifting figures present a 19 percent annual increase from 2015. The 8,848 units sold in 2016 were the most since 9,347 sold in 2005.
Local real estate experts are optimistic about the statistics and predict sales will continue to increase in 2017. Inventory has continued to fall as median prices steadily, but safely, continue to rise. 2014 to 2016 saw a 6 percent increase in median price.
Low mortgage rates remain the most prominent cause behind the sales increase.
– Zach Heffstetler, S&A Communications