OBX Housing Market Not Red Hot

Twice as many homes are for sale in Dare and Currituck counties this year compared to 2005, and that has many wondering if the real estate bubble on the Outer Banks finally burst. Closings are down considerably. Real estate agents say sometime last October, prices stalled, and are now beginning to come back down to earth for some properties. Broker David Watson says, for now, the idea of buying a property and turning it over in a few years to get rich quick may be gone.


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