The Triangle’s new home market continued to experience gains in construction and sales, according to a recent report by Metrostudy. 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.” [Read this article]
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