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For the past few years, the real estate market in Wilmington and the surrounding areas has been hotter than the shimmering lines of heat coming off Highway 40 on a dog day afternoon. But are we on the way to a cooler real estate market?

The economic data analyzed by Lawrence Yun, chief economist and SVP of research at the National Association of REALTORS®, certainly paints an interesting picture.  Yun described his beliefs about the future recently in a virtual presentation during a breakfast/informational session held by the Cape Fear REALTORS® and the Cape Fear Home Builders Association.

The session was held at the Hotel Ballast in Wilmington and was initiated by an analysis of recent trends in the housing market.  Not surprisingly given the anecdotal data I’ve received from my colleagues and clients, the median sale price in the Wilmington metro region  rose by 14 percent in 2021, to $325,000.

At 6.12 million unit ....

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