The stats are in, and HBW Building Activity Trend Reports have been finalized for new home construction in the Atlanta area. According to the most recent report, there were 22,943 new residential construction permits added to the HBW database for the Metro Atlanta area last year, reflecting a notable 12 percent year-over-year increase in new home construction.
Since 2022, new residential construction in the Metro Atlanta area has been steadily and slowly declining, with the total number of permits on record decreasing year after year. Upon review of the latest figures from 2024, it looks like the area is rebounding, resulting in Atlanta’s first year-over-year increase in new home construction since 2021.
When reviewing the reports from a county-by-county perspective, there are a few counties where new residential construction appeared to increase significantly last year… For example, in Bartow County there were nearly 1,035 new residential construction permits on record last year, reflecting a 28 percent year-over-year increase in new home construction. Additionally, Dawson County climbed out of its two-year decline, having an impressive 102 percent year-over-year increase new home construction last year, resulting in nearly 770 new permits on record. Another county that previously demonstrated a declining market (since 2020) and came out stronger last year is Clayton County; in Clayton there was a 24 percent year-over-year increase in new home construction, resulting in more than 330 new permits on record with HBW.
When reviewing permit data to identify counties carrying the highest concentration of new home construction, the three counties that topped the list include Gwinnett, Fulton and Cherokee, and two out of three of them demonstrated year-over-year increases ranging from 5 percent (Fulton) to 18 percent (Gwinnett). The three counties combined carried more than 7,750 new permits, reflecting approximately 34 percent of all new home construction activity in the Metro Atlanta area last year.
Gwinnett County led the Metro Atlanta area by having the highest total number of new permits on record with HBW for the one-year period. Last year, there were approximately 4,200 new residential construction permits added to the HBW database for the area, reflecting an 18 percent year-over-year increase in new home construction. Additionally, Gwinnett ranked #2 for higher value residential construction (>$500k), having approximately 515 new permits with values in excess of $500k.
While Fulton County (1,850 permits) ranked second-highest for total new permits on record in 2024, it ranked #3 for higher value residential construction (value > $500k), with approximately 25 percent of all new permits holding values greater than $500k.
Finally, Cherokee County has exhibited a continued decline in the residential construction market, following the downward trend observed in 2023. Over the past year, new home construction activity decreased by 10 percent compared to the previous year, resulting in 1,706 new residential construction permits added to the HBW database. That being stated, out of the 24 counties that make up the Metro Atlanta area, Cherokee ranked #1 for higher value construction (>$500k), having nearly 600 new permits on record for projects with values exceeding $500k.
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.