Old North News

A recent report has highlighted a significant housing supply gap in North Carolina, with the shortfall affecting all income levels and geographic areas. The report was released by the NC Chamber Foundation, North Carolina Home Builders Association, and NC REALTORS. It projects that addressing this gap could result in $489 billion in economic activity and nearly 2.2 million jobs.

The research examines current and projected housing supply against demand and looks at the economic impact of limited access to housing. It provides a five-year projection period from 2024 to 2029 for rental and for-sale housing inventory across North Carolina's 100 counties.

NC Chamber Foundation President Meredith Archie said, "Addressing North Carolina’s significant housing supply gap is more than just meeting immediate demand; it’s a critical investment in our state’s future." She emphasized the importance of accessible housing to support communities and strengthen infrastructure.

Key findings from the report include a projected increase of 5% in households (218,160 households) between 2024 and 2029. The state faces a five-year housing inventory gap of 764,478 units, comprising both rental and for-sale units. The overall for-sale availability rate stands at 0.8%, below the healthy market range of 2%-3%.

NC REALTORS 2025 President John McPherson noted the urgency of implementing solutions to bridge the housing inventory gap: "Effectively addressing North Carolina’s housing needs will require a collaborative, solutions-driven approach."

The report also details county-specific data showing variations among regions. Urban counties have higher numbers overall, but rural counties face disproportionately high gaps relative to their household bases.

Tim Minton, Executive Vice President of the North Carolina Home Builders Association, commented on the need for policy changes: "This report demonstrates the urgency of policy changes needed for housing and the financial benefits for the community."

The analysis was conducted by Bowen National Research with economic impact analysis by Dr. Michael Walden from North Carolina State University.