WILMINGTON, N.C. -- New homes and apartments are popping up left and right around the Cape Fear region.
- Sales went up by five percent over 2016 in New Hanover County
- Brunswick County saw a 21 percent jump in sales in 2016
- Average home costs close to $300,000
Community leaders came together Wednesday to discuss growth and took a look at the annual economic housing report. Economists said last year New Hanover County homes sales went up by five percent over 2016, however, it’s Brunswick County that is seeing the biggest increase with a 21 percent jump. When it comes to interest rates, they’re fairly low but are expected to rise to 4.5 percent in the next year.
With average home prices close to $300,000, officials said affordable housing is a concern, but they are working to find solutions.
“The city and county have budgeted money for a salaried person that is going to look at affordable housing," said Jody Waino with the Cape Fear Housing Coalition. "Second part of that needs to be a committee that is put in place that can look at those opportunities.”
To handle growth in the Wilmington area, county commissioner Rob Zapple says infrastructure upgrades are key and it’s something they’re working to address.