NAGS HEAD, N.C. — Home sales on North Carolina’s Outer Banks are booming in the wake of the coronavirus pandemic and low-interest rates.
The Virginian-Pilot reported Wednesday that homes and lot sales from Corolla to Ocracoke reached $1.18 billion through October.
That’s the most since the all-time record of $1.5 billion set in 2005. Dan Sutherland, director of multiple listing services for the Outer Banks Association of Realtors, said that sales will likely pass $1.6 billion and set a new record.
Tourists have flocked to the Outer Banks for its lack of density and open spaces.
More people are working from home, while the slow economy has lowered interest rates and boosted home sales.
