There is good news for those looking to purchase Atlanta new homes! Single-family home production rose 4.4 percent in December according to the U.S. Commerce Department. This means that an additional 470,000 homes are being constructed nationwide.
The increase was the third consecutive increase, which makes this the fastest pace of single-family home construction in 19 months.
Bob Nielsen, chairman of the National Association of Home Builders (NAHB), commented that the demand for new single-family homes is increasing nationwide, which enables builders to return to the jobs. He also said in a press release that if not for overly tight credit conditions for builders and buyers, the foreclosure crisis and difficulties in getting accurate appraisals on new homes, the increase of construction and desire for new homes could be even higher. ?Policymakers should be doing everything possible to alleviate these problems and nurture the fledgling housing recovery in order to promote job and economic growth,? Neilsen said.
Though new home construction for single families is increasing, multifamily home building is suffering. The overall number of new home construction actually fell 4.1 percent due to a 20.4 percent decline in multifamily construction.
NAHB Chief Economist David Crowe said the decline in new multifamily construction in December came after a dramatic increase from the previous month, which basically brought that sector back to trend. As for Atlanta new homes for multiple families, the south saw a 0.6 percent increase in permits for new construction.
The NAHB predicts a 17 percent increase in both single- and multifamily housing productions this calendar year.
Source: http://www.atlantarealestateforum.com/more-single-family-atlanta-new-homes-says-nahb-56706/
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