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Outer Banks Sales/ Market Update
WHY SHOULD I BUY NOW? Consider these facts and forecast from the National Association of Realtors
Home sales are projected to move with gradual upturn becoming pronounced by the end of the year.
Going forward, we will see a steadily increasing number of markets moving over to the positive side of home price appreciation. In fact, some local markets will not only move up, they will be moving way-way up.
Therefore, a growing population in need of homes and favorable demographics will push primary and vacation home sales steadily higher. Investor purchases, as they have been for a long time, will account for steady one-fifth of all home sales. Driven by ever growing number of people in the 50-to-60 year old age group, the vacation home purchases actually rose in 2006-during the so-called housing recession year. Record and ever rising houshold wealth also contributed and will continue to contribute to pushing vacation home purchases to steadily new highs.
When prices begin moving upward consistantly do you think sellers will be willing to negotiate as much, especially when rentals are strong?