Atlanta on Track for a Record Year

New residential construction in the Metro Atlanta area is on track for being the best year for housing starts in over five years.

Through the second quarter of this year, Atlanta is already showing signs of a chart-topping year for housing starts.  Since the start of the year through June, there have been more than 12.3k housing starts in the Metro Atlanta area, reflecting an 8% year-over-year increase.  Over the last five years, Atlanta has exhibited growth in new residential construction, and if housing starts continue at the current rate, this year will be its best year yet.

 

ATL Permits 2012-2016

From a county-wide perspective, Gwinnett County continues to be a hot spot for new home construction.  With nearly 2k housing starts through Q2, the area has experienced a 3% increase in comparison to the same time last year.  Over the last several years, Gwinnett has exhibited an upward moving trend, and 2017 is no exception.  Not far behind, Fulton County is also a top locale for new homes; with more than 1,350 housing starts, Fulton has experienced a 10% increase in residential construction in comparison to Q2-2016.  Additionally, Fulton holds the highest concentration of higher value (>$500k) housing starts and is somewhat consistent with last year’s totals for higher value construction.

While Forsyth County has experienced a drop in new home construction (-22%) in comparison to the same time last year, it still ranks third-highest for total housing starts (1,218 permits).  On the other hand, the counties of Cherokee and Cobb both show signs of growth since last year and are currently positioned fourth and fifth with 1,073 and 902 permits through Q2 respectively.

ATL Top Counties for Total Permits Q2 2016 vs. 2017

When taking a look at some of the smaller counties in Georgia, there have been significant increases in housing starts since last year.  For example, the smallest county in Georgia (Clarke County) has nearly 40% more housing starts through Q2 of this year, and housing starts in the less populated county of Newton have nearly doubled in comparison to last year.

Being only halfway through 2017, there is room for fluctuations and changes in construction patterns.  That being said, on the current course Atlanta is experiencing a healthy dose of residential construction, and this year is trending and tracking as one for the books.

Information utilized for the graphs and 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.

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