Though spending for construction starts has exponentially increased in 2017 as a whole, both nonresidential and residential building starts have dipped in the past month, according to Dodge Data & Analytics.
Last month, spending for residential building in the Atlanta-Sandy Springs-Marietta MSA dropped 20 percent, falling from $692 million in September 2016 to $556.6 million. Showing a similar decline, nonresidential construction starts fell significantly in September, plunging from $530.7 million in 2016 to $244.7 million last month — a 54 percent reduction.
Total construction activity for 2017 has surged since the start of the year. Spending for nonresidential construction has increased 36 percent, rising to $4.8 billion. Residential building starts have followed suit, staking a 16 percent increase since the start of the year and reaching an impressive $6.9 billion.
Total building starts last month increased 24 percent year-to-date increase over September 2016 to $11.87 million from about $9.6 million.