The Triangle’s new home market continued to experience gains in construction and sales. This is according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.
Over the twelve months, ending September 30th, the Triangle started construction on 8,748 new homes, which was a 35% gain from the same period a year ago, when the total was 6,479 starts. Closings were up 24.7% in that same period. “Construction growth has been strong, and even with more homes being built as specs [homes built without previously signed sales contract], inventory has held steady, and even decreased in some parts of the Triangle,” said Jay Colvin, Regional Director of Metrostudy’s Triangle operations, “That’s a great indicator of the strong demand for new homes in the region.”