Log in to WRAL.com with one click using your favorite social network:
OR
Log in using your WRAL.com account:



Wrong email/password combination.

Forgot password?

Register with WRAL.com using your favorite social network:
OR
Register for a WRAL.com account using our web form.

Login Options

4:43 a.m. • 2-11-12

Weather Forecast for Raleigh

  • Today: Mostly Cloudy.
    • Hi: 52° F
  • Sun: Clear.
    • Hi: 43° F
  • Mon: Mostly Cloudy.
    • Hi: 50° F

Other Locations

> 7 Day Forecast

Doppler Image

Marketplace Links

Social Links

Main Menu

Building Boom Slowing in the Triangle


e-mail print friendly
Building Boom Slowing in the Triangle
Building Boom Slowing in the Triangle

The building boom shows signs of slowing in the Triangle. A new report says the number of house permits taken out in Raleigh is down about 10 percent from this time last year.

New homeowner Jonathan Skinner was the first to move into his South Raleigh subdivision, but said he has not seen moving vans following him right away.

“I don’t have any neighbors yet," he said, but added, "I don’t really mind that.”

Other areas of Wake County are also seeing a slowdown to building. Fewer permits are being issued in Wake Forest, Holly Springs and Garner are also down.

Apex, Cary and Fuquay-Varina are a few of the communities in Wake County where permits are up.

“Our market is responding to the rest of the country in that it’s difficult for people to sell their homes in other markets to come here,” said Tim Minton, executive vice president with the Homebuilders Association of Raleigh-Wake County

New numbers show building permits being issued in Raleigh are down 10 percent over last year.

“I think that it shows that our builders are being very smart and not investing too far out in the future and making sure the market rebounds,” Minton said.

The building industry estimates that construction makes up 25 percent of Wake County's economy. Officials said they wonder where the jobs will go if the number continue to drop.

Skinner said he is also worried.

“It’s a minor concern. You want the community to develop, and you want it to develop quickly. You want values to appreciate,” Skinner said.

Compared with the national average, Raleigh is in good shape. Building permits are down 24 percent nationwide.

RELATED TOPICS: Wake County, Fuquay-Varina, Holly Springs, South Raleigh, Raleigh, Apex, Cary, Garner, Wake Forest

e-mail print friendly

28 Comments


WRAL.com welcomes your comments on this story. All comments are moderated prior to publication based on our posting guidelines. Please review them prior to posting and if your message is not approved.

View Comments VIEW ALL 28 COMMENTS

This story is closed for comments. Comments on WRAL.com news stories are accepted and moderated between the hours of 8 a.m. and 8 p.m. Monday through Friday.

Latest Comments
since sales have all but stopped, it is good that building has slowed

So perhaps we'll have fewer lane closures, fewer cement trucks to crawl behind on our way to work, less crowded schools, housing values that might actually appreciate, and developers doing their "developing" in someone else's backyard. Forgive me, but I almost cheered for a second there.

"The building industry estimates that construction makes up 25 percent of Wake County's economy. Officials said they wonder where the jobs will go if the number continue to drop."

What percentage of the workers are illegal aliens? If they all pack up and move on, boo hoo - NOT

needs to stop entirely, our natural resources/infrastructure cannot support incresed demands our leaders have been foolhardy, grab the money and run

Wish in one hand and mess in the other and see which one fills up first. Can't have your cake and eat it too.

View Comments VIEW ALL 28 COMMENTS
Report It

Multimedia

Click Here