Triangle sees biggest housing boom in years
Posted February 18, 2017 12:02 a.m. EST
Updated February 23, 2017 4:20 p.m. EST
Raleigh, N.C. — The Triangle is in the middle of one of the biggest housing booms in years. Many realtors said the area can be a buyer's or seller's market depending on location.
The 5401 North development off Louisburg Road is one of many developments under construction in Wake County.
The DeCandios, who are in the market for a new home, found out new houses on the market are going fast.
"Things are selling really quickly, and that happened again just here today," George DeCandio said. "The lot we wanted sold an hour before we came in, so we thought we better do something."
With new construction projects going up all over the Triangle, it's all many realtors can do to keep up with the high demand.
Sue Nichol, with the 5401 North development, and Jessica Miller from the he Pappalardo team at Keller Williams Preferred Realty said there's no sign of the housing market slowing down.
"It's just non-stop. We even had to open up our new section with all the folks coming in." Miller said. "A lot of opportunity to work with new people to work with sellers as well because those buyers need to sell their homes."
In a month to month comparison from January 2016 to January 2017, new listings are up almost 3 percent in Wake County.
Many of these new developments are offering various amenities. At 5401 North, plans are already in the works for nearby elementary and middle schools, a working farm and a grocery store.