OBX Housing Wave- October 2023

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Real Estate

Happy Fall🍁

Looking at the September OBX market stats residential sales
are down 9% and residential inventory down 4%. 

The numbers don’t look encouraging, however when you look a little deeper I say maybe the opposite is true in regards to the OBX market. 

The 10 year treasury rate climbed to 5% this past week which is its highest market since 2000.  Primary mortgages are in the 7.5% range if you’re lucky compared to rates just reaching 6% at the start of 2023.  So with fewer houses to choose from (lower inventory) and fewer buyers able to buy due to... click here to read more