Residential construction is gaining ground in many metropolitan areas in the U.S. Unfortunately, not everyone did so well in June.
McGraw-Hill released its June construction report this week, and the news confirmed more of what’s been taking place in Atlanta all year: despite strong demand, construction is failing to keep pace with 2013. However, the city is catching up.
In June, residential construction activity was down a considerable 14 percent year-over-year, keeping home prices steadily rising and bringing total activity to more than $337 million. Residential contracts awarded in June were similarly down 13 percent year-over-year.
Despite the slow month, year-to-date, residential construction activity is only down one percent from 2013, which suggests the pace of building is moving towards a healthier balance.
Check out our graph below to see how Atlanta compares with other metros: