Spend some time driving around the Lake Norman area and you may notice a trend. New construction has taken over available empty areas. It doesn’t take long before you find a neighborhood with the sound of heavy equipment and hammers. Just how much new construction is there?
New Construction Stats
This year, builders have taken out 916 permits across Iredell county, as of September. That is more than any year since 2008. That’s a good statistic showing that new construction is booming. Also, it shows that the real estate market is back to where it was prior to the downturn. This is good news for everyone. Homeowners are happy their home values are increasing. Also, interested home buyers can feel confident that purchasing a home now is a good investment.
In Mecklenburg county, 3,000 housing permits have been approved and 3,300 apartment units. Those are the highest new construction numbers in decades.
New Construction in Antiquity
Almost anywhere you look you see growth. For instance, the new Harris Teeter in Cornelius, along with several other businesses, is nearly complete in Antiquity. Originally Antiquity was designed as a mixed use community with shopping and businesses. Then the lots sat empty for years … until now. Take a drive out there and you’ll see it’s starting to come alive.
These factors are all positive indicators. Whether you’re looking to buy a home or you have a home available to sell, it’s good news. The amount of new construction shows the area is growing and not regressing. Certainly if you’re still reeling from the years the market was down you can feel confident that we see a different market now.
Read more here: Residential Construction Booms in Lake Norman
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