Weathering housing crisis better than most
Fayetteville has acquired a bit of a reputation for weathering well the storm that battered many real estate markets across the country.
Just ask those North Carolina Realtors who visited Capitol Hill during the 2010 National Association of Realtors Real Estate Summer in Washington, D.C.
"We met with Sen. (Richard) Burr. And the first words out of his mouth - the first thing he said to the whole delegation - was that Fayetteville's in great shape," said David Evans, president of the Fayetteville Regional Association of Realtors. "We just smiled ... and felt kind of guilty."
Those who make a living selling houses in and around Fayetteville are in better shape than many of their counterparts across the country. But it's still no cakewalk for them or some homeowners who are looking to sell.
Despite the cushion that is provided by a large military presence, Fayetteville isn't immune to many of the issues - from buyer hesitation to financing snags - which slowed home sales across the country.
The number of homes sold in Fayetteville dropped during each of the past few years.
In 2006, a record 8,410 homes closed in the Fayetteville market (which reflects sales in Cumberland and eight other counties). That was down to 5,986 homes in 2009, according to association statistics.
In 2009, Zillow.com ranked Fayetteville No. 1 in the nation for rising home values - a fact that gave Fayetteville's market prominent play in a Parade magazine piece.
A year later, however, Zillow declared that Fayetteville is at risk of a prolonged decline - even though the market still ranked ninth in the United States in year-over-year appreciation, with values up 4.2percent over the same quarter of 2008.