NC unemployment drops; Wake County building permits rise
Posted November 16, 2012
Triangle Housing continues to be the beneficiary of some stronger than expected economic and housing news from here in North Carolina.
The overall Unemployment Rate for North Carolina declined in October to 9.3% according to the latest report out from the North Carolina Department of Commerce. The October number is down from September’s 9.6% reading.
October data for Wake County Home Building Permits was released this week as well, indicating some significant percentage gains in year over year data from January-October of 2011 to 2012. Here are some of the improving areas in the Triangle.
- Apex increased 56%
- Fuquay-Varina increased 54%
- Garner increased 175%
- Raleigh increased 26%
- Rolesville increased 144%
More homes being built translates into more jobs for the industries associated with housing. A trend that we’re certainly welcoming here in the Triangle.
Mortgage Rates continue their journey lower due to European economic concerns, Middle East unrest and the continuation of domestic economic headwinds.
Have a great weekend everyone!