Lower density areas such as areas in the Carolinas have seen more activity in the single-family home space—multifamily projects make up just 8 percent of permits in Charlestown and only 5 percent in Raleigh--since renters make up a smaller portion of residents.
The nascent reawakening of the construction sector in some parts of the country bodes well for the local economy and the jobs outlook, too. Construction jobs account for as much as 5.5 percent of all U.S. jobs.
While most experts don't expect the industry to recover to pre-recession conditions, new construction means more demand, which means building firms will likely be hiring. That in turn could translate into even more demand for housing—and new construction—as workers' incomes get a boost.