Jul 29, 2022 - Business

Housing construction booms in the North Carolina suburbs

Data: Census Bureau. Chart: Erin Davis/Axios

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 Triangleā€™s real estate market remains incredibly low. However, rising interest rates have slowed the rate of new home construction in the past few months.

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