Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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Experts predict that Atlanta will be one of the most populated places in America by 2100. But can the metro actually handle all that growth?
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The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics.
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Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market.
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The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row.
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A shortage of existing inventory continues to drive buyers to new construction.
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Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market.
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U.S. government data shows builders increased the pace of single-family home construction while slowing the pace of multifamily starts.
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The supply of new homes for sale ticked lower from February, according to government figures.
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A shortage of existing-home inventory is driving more people to the market for newly built homes.
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