Atlanta Leads Nation in Single-Family Housing Activity For 13th Consecutive Year

May 14, 2004
The greater Atlanta area, which recorded 53,750 single-family housing permits last year, led the nation in housing activity for the 13th consecutive year beginning in 1991.

The greater Atlanta area, which recorded 53,750 single-family housing permits last year, led the nation in housing activity for the 13th consecutive year beginning in 1991.

Rounding out the top five housing markets for single-family permits were the metropolitan areas of Phoenix-Mesa with 46,590; Riverside-San Bernardino with 35,730; Houston with 33,970; and Washington, D.C., with 30,760. The total issuance of single-family permits across the country for 2003 was 1.444 million, according to the Commerce Department.

“We are excited to be the most active housing market in the country once again. It has been a long run,” said David M. Smith, president of the Greater Atlanta Home Builders Association and a builder/developer in the Atlanta metropolitan area. “Overall, housing demand has remained strong and the market has been vibrant, but we are seeing changes in buying activity.

“The market for higher end homes has fluctuated during the last two years, though it has been gaining strength in recent months. The first-time buyer and first-time move-up markets have not slowed since 1991,” said Smith, who is also president of Hedgewood Development Corp.

During Atlanta’s 13-year reign as the hottest housing market in the country, total annual building permits in Greater Atlanta have ranged from a low of 24,684 in 1991 to a high of 66,550 in 2002.

The Houston metropolitan area, which 15 years ago ranked 32nd in the country with 6,788 single-family permits, moved up to fourth in the nation last year.

“Houston is hot, and that is not just the weather,” said Mike Karm, president of the Greater Houston Builders Association and of Larus Builders Inc., a builder in the greater Houston metropolitan area. “New home starts have broken records and pumped billions of dollars into the local economy over the past few years.”

Karm said the Houston market is a preeminent building market because of the strong and diverse economy and low interest rates.

Across the country, the top 20 most active metropolitan areas accounted for 33 percent, or 480,330, of the 1.444 million single-family permits issued nationwide during 2003.