Existing home sales were up 7.4% and are due in large part to the rush last year of home buyers wanting to take advantage of the First Time Home Buyer Tax Credit.

Here is a link to the National Association of Realtors' chief economist Lawrence Yun and his thoughts on this:

Although there may be some more slight adjustments in pricing before appreciation is evident, the excellent interest rates and affordability of homes will greatly offset any minor adjustments down in pricing.  We are very conservative when it comes to advising our clients but we feel this is truly a great time to purchase residential properties in the Wilmington NC area for personal use or investments. Wilmington NC real estate information is available on this website or feel free to call us for more specific data.