Home Real Estate Population, job growth keep Triangle housing market hot as other areas cool

Population, job growth keep Triangle housing market hot as other areas cool

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RALEIGH – New data jointly released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development shows that, compared to May, the sales of newly constructed homes dropped by 6.6% in June, and the median price of a new construction home was $361,800.

Data on new building permits shows a 5.1% drop nationwide in June compared to May.

But those watching local housing markets shouldn’t assume this data means home sales in the Triangle are slowing in any way, said Gian Hasbrouck, a new home consultant for one of the Triangle and nation’s largest builders, and a past president of the Home Builders Association of Durham, Orange, and Chatham County.

There’s a bit more nuance required, said Hasbrouck.

And, even though new construction building permits dropped nationally, city-level data shows that the total number of building permits issued in Raleigh, Durham, Morrisville and Cary increased in June, compared to…

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