Atlanta, like most of the nation’s regions, has seen an increase in homebuilding, but is still well below its historical pace, according to an analysis of federal data released today by Trulia.
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Roughly 70 percent of metro areas are building below their long-run norm, according to Trulia, a San Francisco-based real estate research firm.
Of the 100 largest metro areas, Atlanta is “somewhere in the middle,” Trulia spokeswoman Selma Hepp said.
So far this year, building permits in metro Atlanta are running 29 percent below “the historical norm,” including permits for construction of single-family homes, which are running 37 percent below normal, she said.
Of course, compared to the frenzy of the housing bubble a decade ago, the shortfall is even more dramatic.
Meanwhile, more than half of American metros are building multi-family homes much quickly than they historically did, according to Trulia’s analysis. Some cities, including Boston and Newark, are several hundred percent above historical averages.
Atlanta multi-family building is 10 percent higher than the long-term trend, Trulia said.
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