The NAHB has teamed up with First American to create the NAHB/First American Improving Markets Index (IMI). The index identifies metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months.
40 new metro areas were added to the list in January. The list now includes 76 improving markets. The only Georgia market that is currently on the list is Athens. Atlanta is not on the list.
In spite of this scientific, numbers-based research, I can tell you through firsthand experience that things are improving here in metro Atlanta.
| “In spite of this scientific, numbers-based research, I can tell you through firsthand experience that things are improving here in metro Atlanta.” |
I belong to a group of fellow Trade contractor friends (you know who you are) that regularly get together to discuss home building in metro Atlanta. Together, we represent the majority of the construction phases of a home.
It’s true that those meetings usually occur at a drinking establishment. And yes, beer may be involved. Nevertheless, the information discussed remains credible.
At our recent meeting, all members reported increased bidding and construction activity. The general consensus among the group was that there is a very deliberate upward trend in building activity.
There are some interesting pockets of activity – and inactivity – in a housing market as big as Atlanta.
A number of my custom builder friends are still dead in the water, with only a few projects to bid, where “winning” the job often means doing the work at break-even prices at best.
However, the majority of our clients and friends are seeing an increase in both bidding and building homes. Many of our high-end custom builder friends are very nicely busy with multiple projects. A handful of our semi-custom builders have had steady sales for quite some time.
We see the most activity in Cobb County, Alpharetta, Roswell, and pockets inside the perimeter. We even see builders probing and testing the outer limits of the Northwest suburbs, venturing into the once apocalyptic no-man’s lands of Paulding and Bartow counties.
Will Atlanta show up on the NAHB/First American Improving Markets Index in February or March? We’ll see. I’ll keep you posted. In the meantime, we at Herbert Construction Company will continue to find those pockets of activity and stay busy building basements.
Happy New Year,
