Jul 29, 2022 - Business
Housing construction booms in the North Carolina suburbs
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The Raleigh and Charlotte suburbs, as well as Brunswick County on the coast, have seen the most dramatic increases in new housing in North Carolina over the past year.
- Brunswick County, a haven for retirees and the fastest-growing county in the state, led the way with housing units growing by 4.2%.
- Wake County housing construction grew by 2.6%, while neighboring Johnston County, where land is cheaper, saw 4% growth.
What's happening: The U.S. is seeing a boom in suburban home building, Axios' Erin Davis reports.
- Much of the construction is in Sun Belt job centers, like Raleigh, Nashville, Austin and Dallas.
Why it matters: The increased construction comes as the supply of homes available in the Triangle’s real estate market remains incredibly low. However, rising interest rates have slowed the rate of new home construction in the past few months.