Wilmington’s housing market continues to surge with building permits rising in July for the 5th time this year, according to the latest data from the Census Bureau. Wilmington continues to show growth even as building nationally slows.
By the numbers:
- Building permits in Wilmington climbed to a seasonally adjusted annual pace of 822, this marks the second-highest level in the last 18 years
- Wilmington’s building permits are the 33rd highest in the nation.
Single-Family: 76% of the city’s permits are for single-family homes, underscoring the ongoing demand for detached housing.
The Big Picture: While building permits fell almost 3% nationally in July to 1.41 million, North Carolina and Wilmington are bucking the trend. The surge in permits, particularly for single-family homes, points to a strong housing demand in the state despite elevated interest rates and national economic headwinds.
- Zoom In: Across North Carolina, building permits jumped 10% to 9,186 in July, with Raleigh (2,241) and Charlotte (2,124) leading the state. Wilmington ranks third in the state for permits issued.
Why It Matters: Wilmington’s continued growth signals a robust housing market at a time when other parts of the country are experiencing a slowdown. As permits increase, the city’s construction boom may bolster local economic activity and address ongoing housing demand.
