An HBW review of new residential construction permits in the Atlanta area during Q1-2019
In the first quarter of this year, there have already been approximately 5,300 new residential construction permits added to the HBW database for the Metro Atlanta area. While this reflects a 3% year-over-year decrease in comparison to the same time last year, there are counties like Fulton that are already way ahead of 2018 figures.
Since the start of this year, Fulton County has experienced the greatest number of housing starts (716 permits) in comparison to other counties in the area, reflecting a 20% year-over-year increase in new home construction. This comes as no surprise considering that the actual city of Atlanta is located in Fulton County, and Atlanta just landed the #4 spot on Realtor.com’s list of the top ten cities that are expected to dominate home construction this year. According to HBW’s files, new residential construction has been on the rise in Fulton County since 2016, and it appears that this year may maintain that trend. Additionally, Fulton County dominates when it comes to higher value homes (construction value greater than $500k), as nearly half of all high value construction originates from the area.
Other Metro Atlanta counties that have started off ahead of 2018 in the first quarter of this year include Cherokee and Dekalb. Since the start of this year, there have been nearly 510 housing starts in Cherokee County which is 10% more than the same time last year. Dekalb County has also experienced a 10% year-over-year increase in new residential construction; in the first quarter of this year there have been nearly 300 housing starts in Dekalb, and although it is still too early to tell, the increase may be indicative of the area coming out of the slump it had in residential construction last year. Additionally, the Dekalb suburb of Scottdale was listed as one of the fastest growing communities in Atlanta by Realtor.com, and while homes are significantly less than the median in the city, home prices in the area rose 178% in the last five years.
Other Metro Atlanta and surrounding counties that held a higher volume of new residential construction in the first quarter of this year include: Gwinnett County (674 permits); Forsyth County (466 permits); and Henry County (363 permits).
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.