Big home builders buying lots, getting ready to buildMarch 11, 2009
Submitted by Natalie Ransom, REALTOR, Founding Partner Atlanta Fine Homes Sotheby’s International Realty.
Some of metro Atlanta’s largest home builders are getting ready to build again.
After a housing collapse that has virtually halted new home construction, national builders are looking for and buying lots at fire-sale prices, a signal that they are out of new home inventory and plan to start building again.
Housing permits, which are a precursor to housing starts, dropped to 1,447 in fourth-quarter 2008 in metro Atlanta, from 4,728 a year prior, according to SmartNumbers LLC, a residential real estate research firm in Marietta. That’s down from 14,720 in fourth-quarter 2005, near the height of the housing boom.