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Atlanta Home Builders See the Light at the End of the Tunnel

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Permits for home construction should increase by about 15 to 20 percent by the end of 2012, according to Smart Numbers, a real estate analysis firm. Industry watchers expect the number of monthly permits for the region to reach somewhere between 600 and 700.

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Atlanta Home Builders See the Light at the End of the Tunnel

  1. 1. ATLANTA HOME BUILDERS SEE THE LIGHT AT THE END OF THE TUNNEL By Stephen F. Been
  2. 2. Introduction  Permits for home construction should increase by about 15 to 20 percent by the end of 2012, according to Smart Numbers, a real estate analysis firm. Industry watchers expect the number of monthly permits for the region to reach somewhere between 600 and 700.
  3. 3. About  Those figures are a fraction of the 5,000 monthly permits issued during the early 2000s. However, given the situation of the last several years, the new numbers have sparked some optimism among local builders. Most economists and home builders expect a slow, steady recovery, as opposed to a sharp upturn in the next year. At the same time, home prices have continued to drop. At the beginning of 2012, the average price of a home in the city stood at $156,676, down from just over $178,000 a year earlier. Nevertheless, home builders should remain positive. Confidence in a recovery will only help.
  4. 4. About Stephen F. Been  Stephen F. Been graduated with a degree in finance from the University of Georgia. Stephen F. Been is the CEO of Legacy Communities, a real estate development firm headquartered in Atlanta, Georgia.

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