Here in Atlanta and throughout the South Atlantic region, new home construction continues to lead the nation.
In the maps from EyeOnHousing.org, you can see the South Atlantic region saw 212,684 single-family housing starts. The next closest region is West South Central (Texas, Oklahoma, Arkansas and Louisiana) at 131,130 units.
The second map again shows how the South Atlantic region has taken off since 2009 unlike any other in the country. Most have experienced growth but nothing on our scale.
We have seen the trend play out here in Atlanta with much of our portfolio. This summer, we have closed on transactions with some of the largest homebuilders in the Atlanta area. We have sold hundreds of developed or unimproved lots to Smith Douglas Homes, Mullinax Homes, Century Homes and D.R. Horton, the largest homebuilder in the nation.
The transactions suggest that demand has surged back after the recession, and people are once again ready to buy. Even better for Joffe Land Companies, we have only sold a small percentage of our developed lot inventory so we expect even more sales to homebuilders this year and well into 2017.
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