A review of new residential construction permit data from January 2019 through June 2019
Last year, metro Atlanta’s new residential construction market held steady, not having much movement in the direction of growth or slowing down. Since the start of 2019 (through June), residential construction in the metro Atlanta area has shown a slight sign of slowing with a 4% year-over-year decrease in new permits on record with HBW.
Throughout the metro Atlanta area there have been approximately 11,730 housing starts in the first half of this year, and nearly half of all new construction took place in the following five counties:
Through the second quarter of this year, Gwinnett County ranked #1 for total housing starts in comparison to other metro Atlanta area counties. As of 2018, the population is estimated to be 927,781, making it the second-most populous county in Georgia. Since the start of this year, there have been 1,513 new residential construction permits added to the HBW database for Gwinnett, reflecting a 17% year-over-year decrease in new residential construction.
Fulton County ranked second highest for total new residential construction permits on file with HBW through Q2-2019. Being city-center and having Atlanta as its county seat, Fulton’s population and residential market continue to grow; based on 2018 estimates, the population was 1,050,114, making it the state’s most populous county and the only one with over 1 million inhabitants. Since the start of this year, there have been more than 1,320 housing starts in the area, reflecting a 5% year-over-year increase in new residential construction activity.
According to the Cherokee Ledger-News (August 29, 2018), Cherokee County (population 254,500+) is currently the fastest growing county in the metro Atlanta area. In the first half of 2019 (thru Q2-2019), Cherokee’s new residential construction market has held steady with no major changes, resulting in nearly 1,070 housing starts on file with HBW.
According to HBW records, Forsyth County has been experiencing a decline in new residential construction year after year since 2016. This year (thru Q2-2019) has followed the same pattern of decline as there has been a 25% year-over-year decrease in new home construction permits, resulting in just over 1,020 new permits.
Similar to Forsyth County, the County of Cobb has also demonstrated a decline in new residential construction since the start of this year. Unlike Forsyth, Cobb County’s new residential construction market has been on an upward growth trend for the past five years, so the 30% year-over-year decrease in new residential construction permits through Q2-2019 is uncharacteristic of the area. Over the next six months, Cobb County will certainly be an area to watch for improvement in its residential construction 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.