The Wilmington Star reports from North Carolina. "Amid national concerns of a deflating housing bubble, Wilmington remains a choice destination and prices in its core have stayed strong even as homes are taking longer to sell, demand at the beach has turned anemic and buyers have hopped in the driver's seat."

"Across the board, island markets in Pender, New Hanover and Brunswick counties have dried up. In October, the median price for an existing single-family home in Brunswick County was $221,000, down more than $50,000 from the same month in 2005 as beach traffic has slowed."

"'The beach has come almost to a halt,' said Beth Suggs, president of the Brunswick County Association of Realtors. 'I think buyers are kind of sitting back waiting to see if prices drop.'"

"In Carolina Beach and Kure Beach, where a surplus of new construction cooled one of the areas's most overheated markets, the number of residential units sold was down about 70 percent through Nov. 4 from last year, said (realtor) Steve Bowwman."

"Oceanfront lots that last year went for $1.3 million now sell for about $980,000, he said. 'We've seen land prices just tumble,' he said."

"In the $300,000 to $600,000 range,there is little appreciation and long stays on the market, Realtor Jeff Lucas said. Likewise in New Hanover County, the $400,000 to $800,000 range is the most crowded, said Realtor Jim Spicuzza. Some sellers are throwing out 'make my day' numbers just to see what they can get, he said."

"Real estate investor Rich Lehrer said he doesn't see who's going to buy the high-priced homes. Rents have not risen enough to make landlords interested in home prices; slow markets elsewhere mean that people wanting to relocate are pressed to get out of their current homes; and local salaries remain meager in comparison to the cost of real estate."

"Last year, the per capita income in the Wilmington metropolitan area was $28,584, just less than that of Rome, Ga., and 222nd in the country, according to the U.S. Department of Commerce."

"'Prices are going to have to come down before the market starts moving again,' Lehrer said. 'If you bought last year, you better not need to sell this year.'"