Raleigh sees boom in construction

RALEIGH, N.C. (WTVD) -- It's no secret that the Triangle is booming, with new homes popping up all over the region, but it turns out - all the new construction is making waves nationally.

A new ranking from research company Construction Coverage ranks the Raleigh and Cary area at the top for the rate of new homes being built compared to any other large metro area.

"That is driven by our really strong job market with health, technology, and education," said Melanie Park.

Park, a Raleigh-based real estate agent, said she isn't surprised by the ranking.

"It's like Pac-Man trying to drive on the road with the construction that's trying to keep up for i,t with all the housing that's being built, whether that's apartments or new homes," she said. "So, yeah, we're increasing density as well. And trying to keep up with the pace of all the people moving here."

Real estate broker John Woods said the job market remains strong in the Triangle despite recent layoffs, and the latest announcement about the new children's hospital in Apex marks another big moment for growth.

"That is huge. And I try to explain to anybody who will listen how great that is," Woods said. "Not only is that a lot of jobs, but its location opens up. The jobs can come from Lee County and Harnett County, as well as from Wake County."

New home construction doesn't show any signs of slowing yet, and tariffs haven't had any widespread effect on development yet.

"I think as we've watched the last couple of months, the threat of tariffs and they go away, the threat of tariffs, they go away. There certainly are some effects that could happen with tariffs," Woods said.

There are some concerns around the cost of building materials like timber or home appliances. And though home prices have gone up since the pandemic, the cost of living remains low compared to other major metros.

It's not just Raleigh and Cary making national rankings - Wilmington claimed the top spot for the rate of new homes built in midsize metros - and as far as state rankings go, only Idaho topped North Carolina.