“I would say there’s definitely an undersupply of new construction and they are moving very well, so I think what you’re seeing is builders try to keep up with the demand, but to some extent they can’t build them fast enough, which is a great thing,” he said.
Sinclair pointed to Traton Homes’ Rockford development by Marietta High School.
“It turned out to be some of the most successful subdivisions in Cobb County last year, and it is completely sold out,” Sinclair said.
Housing permits in Cobb County for the month of July outperformed the same month in 2012 by 38, rising from 103 to 141.
Year-to-date, single-family home permits are up from 668 issued in 2012 to 982 this year.
“There’s not a lot of inventory, so if something that is in really good shape or it’s priced really well goes on the market it pretty much sells immediately, and therefore anybody who’s in the market for a new home, and there’s a lot of them, they’re snapping them up pretty fast,” Sinclair said.
Of Cobb’s six cities, Smyrna issued the most permits in July at 20, up from the 12 issued in July 2012.
Anecdotal evidence suggests competition for home purchases in Smyrna is very healthy, said Ken Suddreth, Smyrna’s community development director.
“We entered the 2008 economic/housing crash with a lot of properties available that did/do not require much in the way of infrastructure to get moving again in development, it may simply be that people want to live in Smyrna and there is confidence in Smyrna,” said Suddreth. “When the economy took a hit in 2008, we knew that once the economy began a recovery that Smyrna would be in position to do very well.”
In 2008, for example, Smyrna issued only 35 permits and only 40 in 2009. The number rose to 107 in 2010 and to 120 in 2011. Last year, Smyrna saw 203 permits issued for the calendar year and with four months to go this year, it has 165 permits and expects to exceed last year’s number, he said.
The city of Marietta issued 11 permits in July compared to the nine it issued in July 2012.
“We are running ahead of last year with the issuance of permits for the construction of single-family homes,” City Manager Bill Bruton said.
For the first seven months of 2013, Marietta issued 54 single-family home building permits. By comparison, the total for 2012 was 74. The low point during the recession was in 2009 when Marietta only issued one for the entire year.
“The next 12 months look very promising for the Marietta housing market with many large projects getting underway,” Bruton said, noting the city has more than 200 lots in various stages of development.