Report: More than 27 percent of mortgages in Wilmington are for secondary homes

Report: More than 27 percent of mortgages in Wilmington are for secondary homes

WILMINGTON, NC (WECT) - More than a quarter of homes purchased in Wilmington in 2017 were for non-primary residences, according to a new report.

The Port City ranked 45th in the country in Smartasset.com’s list of the hottest secondary home markets in the country.

According to the report, of the 5,620 mortgages in Wilmington in 2017, 1,557 (27.7 percent) were for secondary residences.

Ocean City, N.J., was ranked first in the country as nearly 80 percent of home purchases were for secondary residences.

Mrytle Beach-Conway-North Myrtle Beach was seventh on the list at 45.6 percent.

The report is based on information from 2017 in the Consumer Financial Protection Bureau’s Home Mortgage Disclosure Act Database.

More information on the rankings can be found here.

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