Nation's Building News Online

Spotlight on: Atlanta

Local HBA:
    Greater Atlanta Home Builders Association
President:
    Harold Cunliffe, developer and partner in The Pacific Group
Executive Vice President:
    Mark Fitzgerald
Membership:
    Nearly 4,200

By Mark Fitzgerald, EVP of the Greater Atlanta HBA

Vital Stats:

• Metro population:  4.2 million
• Price range for starter homes:  $100,000-$220,000
• Price range for trade-up homes:  $175,000-$300,000
• 2002 housing permits:
  • 38,095 single-family detached units
  • 5,500 condos/attached for-sale units
  • 6,300 apartments

Outlook for 2003: 

Atlanta is the nation’s top market for housing production, and we’re looking to maintain about the same level of activity this year as we had last year. That’s primarily due to phenomenal strength at the lower end – demand for starter homes is just relentless, and hasn’t been impacted a bit by economic jitters. The trade-up homes market was stronger in 2002 than in 2001, but it has been affected by slow job growth and could slip slightly. However, Rubbermaid is opening new offices here in 2003, so hopefully we’ll see some growth in the higher price-points tied to that.

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Biggest source of concern for Atlanta builders:

Slow job growth and lower consumer confidence due to concerns about war in Iraq, stock market volatility and the dot-coms that are now just “dot-gone.” It’s a climate of uncertainty that has clouded the market since 9/11 and is likely to be with us for a long time. On another level, growth issues and particularly traffic congestion continue to be political hot-points.

Market trends:

The condo market has really picked up, along with people’s desire to be in more central locations. Commuting headaches are driving demand for infill communities and homes located in places where people can take advantage of reverse commutes. Meanwhile, government regulation, oppressive ordinances, moratoria and escalating fees are all making life more difficult for Atlanta home builders.

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