Residential construction has been making a tepid comeback in recent months; how did March play into that narrative?
Let’s put it this way – March was both a rather disappointing month for residential construction in the Atlanta area, according to the latest numbers that McGraw Hill Construction provided us.
At $270 million, the area’s total residential construction spending was in line with other major metro housing markets, but when you compare that number to past data sets, the situation is underwhelming.
By yearly measures, Atlanta’s residential construction was down by 5 percent percent; year-to-date, though, construction is down 13 percent, with Atlanta’s monthly rate of construction bouncing from $310 million, to $338 million, to finally March’s $270 million. Considering that the current new construction markets are led by multifamily construction – which is notoriously erratic – those numbers actually make sense.
To get a better idea of how Atlanta stacked up with the rest of the nation, check out our graphs below: