Construction spending rises and falls throughout the country, helping and hindering markets struggling to refill dwindling inventories.
Construction spending was up this past October, according to recently released figures from the U.S. Census Bureau. The increases, which amount to a seasonally adjusted annual rate of $971 billion (just above a 1 percent gain), are, as the report suggests, the result of a significant uptick in both private and public spending.
Month-over-month, in October, nearly all construction sectors saw spending growth, as we recently reported.
In the dogwood city, developers benefitted from huge injections of construction spending, increasing 53% from September to October and 19 percent year-over-year, boosting 2014’s total residential spending to over $4.2 billion. Atlanta’s growth represents some of the heaviest construction spending in the country, and follows the city’s larger trend of healthy market improvements.
To see how our city stacks up, check out our graph below: