Metropolitan Statistical Area (MSA):
Lumberton, NC is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Lumberton, NC metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of the housing market crash. Home prices have plummeted and foreclosures have skyrocketed. However, there are signs that the worst may be over for this beleaguered area.
One positive sign is that home sales have increased for three straight months, according to the latest data from the North Carolina Association of Realtors. This is a significant turnaround from last year when home sales were falling on a monthly basis. Additionally, median home prices in the Lumberton MSA have stabilized and even inched up slightly over the past few months.
Another encouraging sign is that foreclosure filings have slowed down significantly. In fact, they are now at their lowest level since 2007, which was before the housing market collapse began. This indicates that fewer people are falling behind on their mortgage payments and that more homeowners are able to stay in their homes.
All of these trends point to a slowly improving housing market in the Lumberton MSA. While it will still take some time for prices to fully recover and for foreclosures to completely abate, it appears that this area is finally starting to turn the corner after years of decline.