Atlanta2018-09-26T12:27:50+00:00
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Atlanta-Sandy Springs-Roswell

2018 is looking more positive for Atlanta than originally forecasted.

After the market grew at an annual rate averaging 10.2% from 2013 to 2017, the market is projected to expand at a lower rate annual average rate of 3.9% for the next two years. After bottoming out in 2012 at $11.4B annually (2009$), the market has nearly doubled that volume level in 2017, reaching $22B. The strongest sectors moving forward for the next two years will be residential (5.8% average annual growth rate), education (5.4%), infrastructure (5.0%), and healthcare (5.4%). Construction labor is struggling to keep pace with the demand, as 79% of surveyed general contractors statewide are having difficulty hiring craft hourly workers according to AGC. Unemployment in May 2018 reached 3.4%, well below the national average. Shortages of carpenters, truck drivers, and concrete workers are being reported. Top projects in the area include the Atlanta-Chattanooga HSGT ($8.8B), the Switch Data Center Campus in Lithia Springs ($2B), Assembly Mixed-Use Development in Doraville ($2B), and the Georgia North Industrial Park in Adairsville ($1.8B).

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