Although industries across the community and nation have fought to succeed over the last two years due to the pandemic, supply chain issues, and a variety of other hindrances, the high demand for housing has created opportunity for growth in the residential real estate and construction markets.
In fact, statistics from the Homebuilders Association of Fayetteville show that, until 2021, the last time the City of Fayetteville and Cumberland County combined exceeded 700 new residential permits was in 2014.
In 2014, the area saw 744 new residential permits. In 2021, the area had 723 new residential permits. From 2015-2020, the next highest number of new residential permits was in 2019, clocking in at 665 – 58 permits less than 2021.
Out of the 723 permits last year, 382 were Cumberland County permits with a total cost of $69,233,621, and 341 were City of Fayetteville permits with a cost of $72,803,062.
The area also saw a high number of residential remodel permits. Cumberland County had 418 such permits and the City of Fayetteville had 503.
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