With more than 16,800 new residential construction permits, housing starts in Atlanta are up by 15% in comparison to 2015.
The Metro Atlanta area is teeming with housing starts and on track for having its best year yet. At the current average rate, Atlanta will have the most housing starts in a given year based on records over the last five years. Through the third quarter of this year, HBW has 16,829 new residential construction permits on file for Atlanta, a 15% increase in comparison to YTD 2015.
County-by-county, there are some areas that have seen tremendous growth since the start of the year. The majority of counties reviewed have experienced growth (ranging from 3% to 157%) in comparison to the same period last year; only three out of twenty-four counties experienced a dip in activity.
Gwinnett County continues to boom with housing starts. Through the third quarter of this year, there have been more than 2,660 housing starts in Gwinnett, a 9% increase in comparison to 2015. Next in line, Forsyth County is second highest for total housing starts with nearly 2,200 new permits so far this year. Although down by 6% in comparison to reports thru Q3 of last year, Fulton County is third highest for total housing starts with 1,914 new residential construction permits added to the HBW database. Additionally, Fulton County is the area with the highest concentration of housing starts valued over $500k, as it has close to 300 higher-value residential permits on file for YTD 2016.
Another area that has seen year-over-year growth is the County of Cherokee. Cherokee County is up 8% in comparison to 2015 with 1,539 starts on file. When looking at higher-value residential construction, Cherokee was third highest for total permits (53 permits) and positioned to exceed 2015 totals before the closing of this year.
The county on the top five list that experienced the most growth so far is Cobb County. Cobb County ranked fifth highest for total housing starts with 1,243 new permits, a 61% increase in comparison to Q3 YTD-2015. Cobb County is also on top when looking at residential construction valued in excess of $500k. Through Q3, Cobb County ranks second highest for higher-value construction with more than 60 new high value permits to date.
Throughout the Metro Atlanta area, there are several counties that have experienced remarkable growth so far this year. As previously published in the second quarter report for Atlanta, Jackson County was slated to surpass totals for 2015 housing starts by the 3rd quarter of this year; as predicted, Jackson has continued to show marked growth (+61% YTD – 326 permits) and has surpassed totals from the previous year. Another county that has exhibited consistent growth over the last five years is Clayton County. Along with increases in housing starts each year, Clayton has nearly 600 new permits on file through Q3 and is ahead of 2015 by 79%. An area that continues to be “one to watch” is Carroll County. As stated in HBW’s Q2 report, Carroll County has experienced year-over-year increases in housing starts since 2012. In 2016, increased volume for new residential construction continues in Carroll County as there has been a 90% increase in housing starts through the third quarter in comparison to 2015.
Information utilized for the graphs and above listed figures for Metro Atlanta was directly derived from HBW construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest building activity in Georgia, Florida, Texas, Alabama, and Oklahoma, please contact HBW for details.