Atlanta construction spending continues increasing, new report finds

by Chelsea Niaz

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Dodge Data & Analytics released new statistics on money spent on new Atlanta construction Thursday. The report considered all May 2017 constructions starts in the Atlanta area.

There was a positive percent change for nonresidential construction starts between this year and last, according to the report. Atlanta’s total in nonresidential construction starts equaled $747,106,000 while last year’s was $283,977,000. However, residential building decreased in 2017 with starts totaling $546,606,000 while 2016 saw a greater total expenditure of $770,084,000.

Residential building’s percent change ended up as -29 percent, a considerable decline from nonresidential’s positive percent change. The numbers put total beginning building in Atlanta for May at $1,293,712,000 in 2017, a 23 percent change from 2016 which ended with $1,054,061,000 spent.

Year-to-date Differences

According to the report, money spent on residential construction starts stayed relatively consistent since last year with a one percent change whereas nonresidential building saw a significant increase from last year. Nonresidential building saw a 58 percent increase in the year-to-date numbers between this year and last with total spending in 2017 being $2,901,588,000 versus 2016’s $1,830,936,000. Both building categories had positive percent changes thus making the total percent change (nonresidential and residential construction starts) 20 percent.

These numbers reflect earlier reports of construction increases in Atlanta. According to past Dodge Data & Analytics reports, April of this year saw a 3 percent increase in residential construction and percent change of two for total building compared to April 2016. Total building for May was up 20 percent, the same as April.

 

Construction Type May 2017 May 2016 Percent Change
Nonresidential $747,106,000 $283,977,000  +
Residential $546,606,000 $770,084,000 -29
Total Building $1,293,712,000 $1,054,061,000 23

 

Construction Type YTD 2017 YTD 2016 Percent Change
Nonresidential $2,901,588,000 $1,830,936,000 58
Residential $3,532,095,000 $3,514,430,000 1
Total Building $6,433,683,000 $5,345,366,000 20

Source: Dodge Data & Analytics