The Outer Banks Visitors Bureau released their August statistics. Gross occupancy receipts for the month of August were up 13.7%. That is a extremely positive sign for the health of tourism along the Outer Banks. Another strong sign was that restaurant receipts were up 2.8%. A double digit increase in tourism for a single month is staggering. Also, it was reported that gross occupancy receipts for the year were up 3.9%.

What does this mean for those looking to buy a house on the Outer Banks?

Now is a great time to start looking for a home. An increase in gross occupancy means that more visitors are coming to the Outer Banks. Again, that is a very positive sign for anyone looking to buy an Outer Banks home to use as a rental property. A second factor that makes now an intriguing time to look for an Outer Banks home is the decline in prices. A fall in prices and an increase in rental income increases the capitalization rate for owning an Outer Banks home. Both factors are making now an attractive time to look into buying a house on the Outer Banks. Posted by Mike Bishal on
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