We, like most of the rest of the country, have a booming economy, especially for small businesses and very affordable housing for renters and buyers, despite a sellers’ market; remember everything is relative to history and the rest of the country and entrepreneurs thrive here. Our airport reached 1 million passengers last year, UNCW is exploding and new construction is ubiquitous in the three counties. Taxes (government economic burden) and the cost of living are low and that benefits everyone, especially first time home buyers, renters and retirees. Young people here can buy or rent more than any generation in the past and retirees find they can live very comfortably compared to from whence they came. Many young, first time home buyers are still buying new or recent construction. Many of them from the last 5 or 6 years are moving up and purchasing a new home or buying additional investment properties as the rental market is strong and rates are low. The rental market is driven largely by relocation (and the large population of young people) and benefits everyone, especially those coming from the Northeast and West Coast where the cost of living is so much higher. I often advise buyers to rent while they get to know the area. Retirees find they can almost pay a mortgage here with what they were paying in taxes elsewhere and enjoy the laid back lifestyle and friendly people. Supply will catch up with demand and the area will be home to tens of thousands more people in the next decade as so many, unlike their parents, are able to live exactly where they want to live: Coastal North Carolina.

Too much demand for the available houses on the market. Apartments seem to be dominating the new construction market and rent rates are high. We are experiencing a true “seller’s market”. Mortgage rates are etremely low and people want to buy. Good houses only last a day or two on the market.