In a continued effort to connect with and help inform the community, the Home Builders Association of Fayetteville is providing valuable information about the state of new residential real estate construction in Cumberland County.
In a recent Facebook post the HBAF compared new construction data for the month of March 2023 to February 2023.
According to the data, Cumberland County saw a decrease in the construction of new homes in the market in March, and also saw the average sales price of a newly constructed home drop to an average of $343,000.
The month of March also saw an increase in the number of newly constructed homes sold to 50, up from 34 in February, and an increase in new permits filed in the county with 58 being filed and processed in the month of March.
Leadership with HBAF said that making this data available is one of the ways the Association continues to serve and inform the community construction industry.
“We assemble the data from multiple sources, including Cumberland County public records, permitting and the MLS. The arrows are something that was added last month to show changes month to month,” shared HBAF President Ned Johnson. “The data (and arrows) are a reflection of available data, it is only there as a presentation of month over month stats, that said, HBAF is obviously interested in the data and what it could mean for our members and their businesses. Housing is a vital industry to our community and we want to promote a strong environment for building, housing, the trades, development, and growth.”
HBAF Public Relations Chairman Shawn Groover has been publishing the data for HBAF since November, and as a realtor serving with Team Groover with REMAX Choice, said the data can help both realtors and builders.
“We just wanted to start putting information out not only for our builders, members, but also the community as well, just to show some of the ups and downs,” said Groover. “I do it monthly as soon as we're able to get the permits, and that really is what drives everything. These numbers are only for new construction, specifically, so I don't include any numbers from residential resales. But a lot of realtors will put that information out there for overall numbers.”
The data is available on the HBAF Facebook page which you can find here: https://www.facebook.com/fayhba
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