Construction starts in Atlanta are continuing to soar, according to a recent report by Dodge Data & Analytics. The report considered all June 2017 construction starts in the area.
Much of Atlanta’s increased spending last month was due to a major rise in nonresidential starts. Spending for this moved all the way up from $545.7 million to $849.3 million — a 56 percent increase year-over-year. Following the same pattern, residential spending jumped 22 percent to $878.2 million from June 2016. This allowed total spending to rise 37 percent from what it was at the same time last year.
Year-to-date data showed similar growth. Nonresidential starts have experienced a 57 percent increase of $2.3 billion spent to $3.7 billion spent. Residential spending has seen a more modest increase — it rose from $4.2 billion to $4.5 billion, a gain of 7 percent compared to last year. This was enough of a jump for spending as a whole to increase 25 percent this year so far compared to last year to nearly $8.3 billion, according to the report.
Construction starts as a whole have been traveling upward in Atlanta for months now, and they don’t show signs of stopping anytime soon. These numbers come as no surprise, as the area surpasses most of the country in factors such as real estate expansion, population growth and job creation.
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|Year-to-date||YTD 2017||YTD 2016||Change|