National economist shares views on local real estate | WilmingtonBiz via @WilmingtonBiz
During his first-ever visit to Wilmington, a top economist in the real estate industry said Tuesday that the area’s economy seems poised to continue on a path of improvement, for real estate and other indicators.
Lawrence Yun, chief economist and senior vice president of research for the National Association of Realtors, pointed to the Wilmington area’s job growth, and that of the state, as a positive factor in ongoing increases in commercial and residential real estate activity. Yun spoke Tuesday morning during the Realtors Commercial Alliance of Southeastern North Carolina's annual Commercial Day event at The Terraces on Sir Tyler, touching on topics from gas prices to rising rental rates.
On the
topic of employment numbers, Yun noted that Wilmington’s job creation
rate was nearly three times greater than that of the nation from 2000 to
2015.
Providing
a forecast for next year, Yun said he predicts interest rates will rise
in December. He also said he predicts 3 percent growth in the overall
economy in 2016, but the rise in the nation's debt remains a concern.
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