Atlanta had more single-family housing construction than any other city in the country for 2003, according to the Commerce Department. This year is the 13th year that Atlanta has led the country in residential construction.
Other areas that ranked in the top 10 single-family housing markets included the metropolitan areas of Phoenix-Mesa, Ariz., Riverside-San Bernardino, Calif., Houston, Washington D.C., Chicago, Las Vegas, Dallas, Orlando and Minneapolis.
The total number of single-family permits issued in 2003 was 1.44 million. Over the past 13 years, Atlanta’s total annual building permits for homes have fluctuated from 24,684 in 1991, to a high of 66,550 in 2002. David Smith, president of the Greater Atlanta Home Builders Association and a builder/developer, says there have been changes in buying activity.
“The market for higher end homes has fluctuated during the last two years, though it has been gaining strength in recent months,” Smith said. “Low interest rates continue to fuel the market and are a major factor behind the strength of our entry-level market. Coupled with the recent increase in job growth occurring throughout the Atlanta area, we are optimistic about 2004.”