Wake County sees uptick in new home construction

Posted February 18, 2012
Updated February 19, 2012

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— New home construction is on the upswing in Wake County, a welcome sign that the economy is growing and improving, according to a recently released report from the Home Builders Association's Raleigh chapter.

The number of building permits for new homes in the county is up 38 percent over this time last year, said HBA spokesman Tim Minton.

"What we're seeing is the job numbers are looking a lot better. Consumer confidence has increased and the builders have responded to that," Minton said. "What building permits show is what the builder's optimism is for the future."

Karen Evans, who sells houses for Royal Oaks Building Group, said builders are including many upgrades in new homes to entice buyers. What's more, Evans said, home ownership has become comparably affordable to renting a home for many people.

"Because the cost of rent has gone up so much, they can see the cost of rent versus home ownership. What you will pay for a mortgage is typically what you pay in rent," Evans said. 

That's what motivated Selda Moo to buy her first home for her family in Knightdale.

"We lived in an apartment. We wanted to live in our own house," she said. Home sales, new construction up in Wake County Home sales, new construction up in Wake County

Rolesville, Garner and Morrisville are among the areas experiencing the most significant increases in growth. 

In addition to new home construction, overall home sales for new and existing homes was up seven percent in January.

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  • commonsense4 Feb 20, 2012

    Great. Now lets forget about updating the roads so we are the smallest metro area with the worst traffic in the country! Growth, growth, growth - that usually means the roads have to grow with construction and the economy but Raleigh's civic and business minds fall short in this area.