Southport Oak Island Realty Group, Inc

A Powerful Investment, Your Home!

Going into 2023 last year, there was a lot of talk about a possible recession that would cause the Southport and Oak Island NC housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about buying a home.

But what actually happened: home prices went up more than usual.

To put last year’s home price growth into context, the graph below uses data from Freddie Mac on how home prices have changed each year going back all the way to 1980. The dotted line shows the long-term average for appreciation:

a graph showing the average of a home appreciation

Home prices almost always go up!

In fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above). The Southport NC and Oak Island NC real estate market today isn’t like it was in 2008. For starters, there aren’t near enough available homes to meet buyer demand right now, especially in Brunswick County North Carolina. On top of that, homeowners here at the beaches of Oak Island and surrounding area’s have a tremendous amount of equity, so they’re on much stronger footing than they were back then. That means there won’t be a wave of foreclosures that causes prices to fall any time in the near future for Brunswick County North Carolina.

The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make. This graphs shows the nationwide average, it would look even better if it only showed the Southport and Oak Island NC areas! When you’re a homeowner, you own something that typically becomes more valuable over time.

So, if you’re financially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you. Contact some of the best Realtors in Southport and Oak Island North Carolina today!

Share the Post:
Jon Langley

Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

Related Blogs

Homes & Real Estate

Get a Free

Home Assessment