Local News

Wake home-building permits up in 2012

Posted January 17, 2013

Map Marker  Find News Near Me

— The number of building permits issued in Wake County last year was up for the second year in a row, indicating a sign of growth in the local economy.

About 5,500 permits for new homes were issued in 2012 – quite a bit more than the average of the previous three years but much less than the nearly 14,000 issued in both 2006 and 2007.

Tim Minton, of the Home Builders Association of Wake County, credits the growth, partially, to consumer optimism but says he's not sure permit numbers will ever again reach those of 2006 and 2007.

Partly, he says, that's due to how the process for obtaining permits and qualifying for loans have changed.

"With the challenges in the financial market, in terms of what it takes now to get a loan, I think it will be a big part of preventing that from happening," Minton said.

Wake County Director of Permits and Inspections Barry Mooneyham says the recent increase came about in the second half of 2012.

He says another factor for the increase is that the number of existing homes on the market is decreasing.

"Part of it is the fact that we've gotten rid of some inventory. Part of it is that we have a fairly low unemployment rate here in Wake County, so people still continue to come here," Mooneyham said.

Nationally, U.S. home construction in 2012 was the highest in four years – the best since the early stages of the housing crisis.

3 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.

Oldest First
View all
  • superman Jan 18, 1:57 p.m.

    Building permits are one thing but sales are more important. Have you ridden by the used car lots. They are full of cars people have to sell cause they cant afford them anymore. Are there still people who buy more house they can afford? How about the old days when you had to have 10% or more as a down payment.

  • Raleigh Rocks 1 Jan 18, 11:04 a.m.

    Reporters Bio reads...As journalists, I believe it’s our job to provide accurate and balanced information in context. Perspective can be one of the most important things we can provide our viewers.....

    Yet she chose to not report all information in this story. What are the real permit numbers for the past 3 years?

  • Raleigh Rocks 1 Jan 18, 11:02 a.m.

    The story says....About 5,500 permits for new homes were issued in 2012 – quite a bit more than the average of the previous three years but much less than the nearly 14,000 issued in both 2006 and 2007....

    Why did you not just report the real numbers for the past 3 years?? Makes no sense unless your hiding an agenda.