FAYETTEVILLE – More than 30 new homes across three counties were put on display this weekend in the Sandhills as part of the annual Parade of Homes, organized by the Home Builders Association of Fayetteville.
The event gives homebuilders and real estate agents a chance to showcase their product to consumers.
Home sales are going strong in Fayetteville. Recently, the area was ranked second in the nation for selling a home by the Zillow Real Estate Market Report.
“It really has a lot to do with the military and the fact that we have never had any subprime lending,” Malcom McFadyen, vice president of the Homebuilders Association, said. “Our mortgage has always been for the most part VA mortgages, and so our folks aren’t in trouble.”
Driving the flurry of construction in the Fayetteville area is the promise of thousands of soldiers and their families moving into the area over the next couple of years. Realtors also expect an increase in sales as first-time home buyers are trying to take advantage of an $8,000 tax credit.
“A lot of folks are out here today looking because of that,” McFadyen said. “If you haven’t bought your home and closed by Nov. 30, then you don’t have access to that $8,000 tax credit.”
The homes in the event range from $140,000 to close to $700,000.
The Parade of Homes in Fayetteville runs this weekend and again next weekend.
Source: News 14 Carolina
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