Atlanta residential construction spending nearly doubled compared to last year, according to a new report from Dodge Data & Analytics.
Residential construction spending increased 48 percent, from $584 million in March 2016 to $864 million in March 2017. On a year-to-date cumulative basis, residential construction spending was $2.29 billion in March 2017, which is up 7 percent compared last year’s year-to-date of $2.14 billion.
On the other hand, nonresidential construction is down 35 percent compared to last year. Nonresidential construction spending was $357 million in March 2017 while spending in March 2016 was $551 million. However, on a year-to-date cumulative basis, nonresidential construction is up 56 percent, from $1.12 billion last year to $1.75 billion this year.
Overall, construction activity is up in Atlanta on both a year-over-year and year-to-date basis. Total building spending is up 8 percent, from $1.14 billion in March 2016 to $1.22 billion in March 2017. Year-to-date cumulative spending is up 24 percent, from $3.27 billion last year to $4.05 billion so far this year.