A review of residential construction permit data for Metro Atlanta as recorded by HBW for 2019
Final figures for new home construction in the Atlanta area are now available in the HBW database. According to the most recent HBW Building Activity Trend Report for new residential construction in Metro Atlanta, there were approximately 23,725 housing starts last year, reflecting a 3 percent year-over-year decrease in new home construction.
Since 2012, the Metro Atlanta area has demonstrated annual growth in its housing market, with the total number of housing starts on record increasing year after year. In 2018, the high growth pattern began to slow, and based on permit totals recorded by HBW, the market began to even out and hold steady. After reviewing the latest figures from 2019, it looks like the slowing has continued, resulting in Atlanta’s first year-over-year decrease in new home construction since 2011.
That being stated, there are a few counties where new residential construction spiked last year… For example, in Paulding County there were nearly 1,320 housing starts last year, reflecting a 5 percent year-over-year increase in new home construction. Additionally, Clayton County climbed out of its two-year decline having a whopping 182 percent year-over-year increase in housing starts last year which resulted in approximately 875 new residential construction permits on record. Another county that previously demonstrated a declining market since 2017 only to come out strong last year is Coweta County; in Coweta there were nearly 900 housing starts in 2019, reflecting a 29 percent year-over-year increase in new home construction.
When reviewing construction permit data to identify counties carrying the highest concentration of housing starts, the three counties that topped the list include Gwinnett, Fulton and Cherokee.
Although Gwinnett County (3,175 permits) experienced an 8 percent year-over-year decrease in new home construction, it led the Metro Atlanta area by having the highest total number of new permits on record with HBW for the one-year period.
While Fulton County ranked second for total housing starts (2,300+ permits), it was #1 for higher value residential construction (value greater than $500k) as approximately 15 percent (328 permits) of all new permits held values greater than $500k.
Finally, Cherokee County appears to be gaining upward momentum from the minor decrease experienced in 2018 as it demonstrated a 2 percent year-over-year increase in new home construction last year, resulting in 2,163 housing starts on record for 2019.
Information utilized for the above listed figures for Metro Atlanta residential construction was directly derived from HBW construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest residential and commercial building activity in Florida, Georgia, Texas, Alabama, and Oklahoma, please contact HBW for details.