H
ome sales in Henderson County plummeted after Tropical Storm Helene damaged tens of thousands of homes across Western North Carolina, figures show. The number of homes going under contract dropped by 31.25% to 55 between October 9 and 22 compared to last year. Thirty-eight homes were withdrawn from the market between September 27 and October 24.

    The county's housing market was already facing low inventory before the storm hit, with a 3.8-month house supply in September, below the six-month level considered a balance between buyers and sellers. Sellers temporarily took their houses off the market, but can still change their minds.

    Mike Figura, a broker, said the impact on the housing market is unclear due to variables like school reopening dates and how long it takes for water and power to get back. He noted that the market is slowly recovering, with a pickup in activity every week. Adrienne Crowther, a realtor, said the housing supply declined further after the storm and will take time to recover.

    As of October 23, about 126,000 homes were damaged in North Carolina, causing nearly $12.2 billion in damage. The disruption may have far-reaching impacts on the housing market and regional demographics. A study found that after a hurricane hits, home prices temporarily rise and wealthier buyers move in, potentially pricing out local residents.

    Samuel Gunter, executive director of the North Carolina Housing Coalition, expressed concern about the future of Western North Carolina's housing market, fearing that displacement will lead to a transition away from long-time residents.