Outer Banks Sales on the Rise

There is no doubt the overall real estate market is in a precarious situation.  The U.S. and global economies are in questionable positions, and housing is a major piece of the economy.  On the bright side, the bad news seems to be slowing down and “green shoots” seem to be appearing in a variety of areas of housing.

On a local level, the Outer Banks housing market is seeing some improvements in fundamentals.  Sales agreements from April through July were about level with sales agreements from the same period last year.  However, OBX sales agreements for August are showing some increase.   August 2008 had 131 sales agreements, and August 2009 had about 140. 

Not a giant increase, but definitely trending in a positive direction.  If the economy can remain ”bullish” through the fall, OBX could see significant improvements.