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New single-family permits down 6% in Wake County in 2014

New single-family housing building permits were down 6 percent in Wake County in 2014 compared with the prior year, according to data compiled by the Home Builders Association of Raleigh-Wake County.

Permits were up 7 percent in December compared to the same month in 2013.

For the year, permits were down 4 percent in Cary, 6 percent in Apex, 17 percent in Raleigh, 5 percent in Fuquay-Varina, 1 percent in Wake Forest and 37 percent in Knightdale. The only Wake municipalities to see an increase in permits in 2014 were Garner, where permits were up 80 percent; Morrisville, where they increased 8 percent; Wendell and Zebulon, where they were up 120 percent.

The number of new homes on the market has been rising in the Triangle but remains low by historical standards.

There were 1,737 new homes listed for sale in Durham, Johnston, Orange and Wake counties in December, up 5 percent from the same period last year, Triangle Multiple Listing Services data show. Still, the inventory of new homes remains 26 percent below where it was four years ago.

New homes have historically accounted for about a third of the inventory on the market in the Triangle at any given time. They now account for 28 percent.

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