Building permits for privately-owned housing units in Wilmington fell to their lowest level since March, according to new data from the Census Bureau.
- The seasonally adjusted annual rate dropped to 724 in August, a 12% decline from July and the lowest level since March.
- Wilmington now makes up 8.2% of North Carolina’s total building permit activity, down from 9.0% the previous month.
Statewide, North Carolina saw a 3.7% dip in permits, bringing the rate to 8,834 for August. Despite the drop, it’s still the second-highest monthly total for the year.
- Meanwhile, nationally, building permits increased by 4.5% to an annual rate of 1.475 million.
Why it matters: Wilmington’s housing market shows signs of cooling, even as national construction trends upward, potentially indicating a regional slowdown.