A review of new residential construction permit data on record for Atlanta during 2020
As we say goodbye to 2020 and hello to 2021, HBW is in the process of reviewing construction permit data over the last year to identify building trends and areas where there have been gains (and losses) in the market. HBW construction data reports provide an in-depth and detailed overview of everything from leading contractors to the number of permits and construction values for any given area, and today we are looking at new residential construction activity in the Metro Atlanta area.
Last year, there were more than 23,320 housing starts in the Metro Atlanta area, reflecting a 5 percent year-over-year decrease in new residential construction. Out of the twenty-four counties that make up the metro area of Atlanta, five counties carried approximately 50 percent of all new construction activity, and those counties were as follows:
Gwinnett County ranked #1 for new home construction last year, having nearly 3,720 housing starts on record and demonstrating a 17 percent year-over-year increase in new home construction. This marked increase in new residential construction activity is the first annual increase the area has experienced in housing starts since 2017.
Last year, there were approximately 2,345 housing starts in Cherokee County, reflecting an 8 percent year-over-year increase in new residential construction. Over the last five years, the area has demonstrated incremental increases in housing starts (with the exception of 2018), and with last year’s increase in new residential construction activity, the area appears to be on track with the average annual rise exhibited in recent years.
In Forsyth County, there were 2,040 housing starts in 2020, reflecting a 10 percent year-over-year increase in new home construction. Since 2015, new residential construction has been on the decline in Forsyth County, with annual decreases ranging from as low as 1 percent (2016) to as high as 23 percent (2019). Last year, the area broke the downward trend with a significant increase in new residential construction, making it a county to watch in the coming years.
With an 8 percent year-over-year increase in new residential construction permits, Cobb County had more than 1,815 housing starts on record in 2020. Since 2015, Cobb County had exhibited significant annual increases in new home construction up until 2019 when there was a major dip in the market (-23%). With the 8 percent increase in new residential construction last year, the market appears to be recovering from the drop in 2019 and potentially back on an upward trend.
Out of the five counties identified with the greatest volume of new home construction activity in the Metro Atlanta area last year, Fulton County was the only one on record with a significant decrease in new residential construction permits. Last year, there were 1,700 housing starts in Fulton County, reflecting a 26 percent year-over-year decrease in new home construction, making it the second consecutive year that the area has exhibited a decline in the market.
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.