Longer-commute areas continued to claim the largest market share in single-family homebuilding, but the construction growth rate was strongest in places with shorter commuting times, the National Association of Home Builders said, citing its quarterly Home Building Geography Index.
Special questions added to the National Association of Home Builders’ monthly builder survey found 90% or more of respondents had experienced shortages of plywood, oriented strand board, framing lumber and appliances, with most other materials also hard to come by.
All open-concept designs will offer three bedrooms, two-and-a-half baths and two-car garages. They will range in size from 1,671 square feet to 2,090 and be priced from the mid-$300,000s.
The 19-hole Oaks Golf Course will be replaced with 142 single-family houses, 190 townhomes, 360 apartments and 143,000 square feet of retail space.
Lumber prices have tripled over the past 12 months, driving up the price of the average new single-family home by $35,872. NAHB hopes to alleviate the situation by meeting with the White House, lawmakers and others.
Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Atlanta.
The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.
The five-story, wood-frame building will be located on the future Westside Beltline Trail and one mile away from the Westside Reservoir Park at Bellwood Quarry.
The national homebuilder will tear down five older single-family houses to make way for the new master-planned community.
Station 496, as the project will be known, will bring 123 affordable-housing units to Boulevard Northeast when it opens in 2022.