There was a great article in the October issue of Real Trends  It said that “housing sales should grow about two to three percent each year for the next ten years.” “It will take some time to absorb the excess housing on the market and the additional housing available for purchase due to the continued foreclosure wave of the 2007-2010 period.” “This will impact house prices more than sales and it appears that the relative attractiveness of today‘s prices may even stimulate purchase activities above what might otherwise be normal.”  “Important note: The five percent figure used is a national figure.”  “Each market will have its own number based on the growth of households and housing sales in that particular market.”

Conclusion: The article went on to say that “housing in the U.S. and elsewhere in the world will recover in the next few years despite challenging economic times.”  “However the accumulation of the record levels of debt at all levels of government, business and households will need to be reduced significantly.”  “Annual housing sales and price increases are not likely to return to their previous levels for the foreseeable future if ever in the next 10-15 years.” To learn more about this topic or Wilmington Real Estate contact me at 910-431-9395 or visit my website at www.livingbythecoast.com.