Home prices in Wilmington jumped 4.98% in 2024, defying higher mortgage rates and rising inventory. Over the past five years, prices have now soared 74% in Wilmington, according to the latest FHFA Home Price Index.
- Wilmington outpaced both the South Atlantic region (+4.23%) and North Carolina (+4.8%).
Nationally, home prices rose 4.5% in the fourth quarter. House prices climbed in 49 states last year. Connecticut led the pack with an 8.3% increase, while Mississippi was the only state to see a decline, down 0.2%.
What They’re Saying: “U.S. house prices grew at a slightly higher rate in the fourth quarter after three straight previous quarters of weaker appreciation,” said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics.
Bottom Line: Wilmington’s housing market continues to outperform, with strong price growth despite challenging conditions.
