How to get a roof for your home in Asheville, NC, and it won’t cost you much more than the $200 you’d pay to buy a house in your neighborhood.
And, with a little luck, it won the roofing business in the city.
The North Carolina Coastal Development Authority has issued permits for more than 200 roof-up apartments across the state, according to the Asheville Citizen-Times.
These include apartments in low-income areas, including the city of Asheville, which had a total of 20 permits issued in March, and the nearby city of Wilmington, which received four permits in February.
“We’re seeing tremendous demand for these apartments,” said John Hickey, the authority’s vice president for housing.
“The opportunity is there, the supply is there.”
Hickey added that the authority expects to issue permits to build about 40,000 more in the next few months, with the goal of building 50,000 by 2019.
Hickey said the authority will also offer a discount to those who purchase their units from a company that does the work of installing a roof.
Those who do not have a roofer can opt to have the work done themselves.
For more than two decades, North Carolina has been one of the top five states in the nation in home prices.
But, since 2009, the state has seen a sharp decline in new construction, particularly for the construction of new homes.
In 2017, the number of new home construction permits issued declined for the first time since the housing bubble burst in 2007.
Hottest areasThe North Carolinas is a major growth market for roof-ups, with nearly 3,000 units of new housing completed last year.
But the number has dipped below the levels seen in 2007, the most recent year for which data is available.
The number of sales for new construction fell 12.5 percent from 2016 to the same time last year, the North Carolina Housing Finance Agency reported.
“It’s been a long time coming,” said Andrew Schoenfeld, a senior economist at the Center for Southern Real Estate at the University of North Carolina.
“It’s not that we haven’t been building, it’s that we have had a decline in our population.
It’s been slow in terms of the growth of new construction.
That has contributed to a dip in sales.”
In North Carolina, the first two months of 2019 were the hottest on record.
In the past year, January through June, there were nearly 3.2 million new home sales, the agency reported.
That was a 4.6 percent increase over the same period last year and the third-highest monthly sales rate since January 2009, according the agency.
Housing prices are now averaging $3,637 a square foot, the highest since the Great Recession, according a report by the real estate firm Zillow.
That’s up from $3.3 million in August 2018, according Zillows data.
In addition to higher prices, the boom in the market for new homes is also having a ripple effect on housing affordability.
“There are lots of people who aren’t buying as much, but they are still spending more on their housing,” Hickey said.
“That means the cost of living is going up, and they are being forced to make adjustments to the way they live.”