South Atlantic Regional Forecast
Delaware • District of Columbia • Florida • Georgia • Maryland
North Carolina • South Carolina • West Virginia • Virginia
The downtown office construction markets in Washington, D.C., and Charlotte, N.C., are hot and the cities also have some big hospital and university construction projects underway. Florida has been decimated by the credit crunch and housing crash. Many metropolitan areas in the Sunshine State have seen housing starts drop by more than 50 percent, and Florida’s 47,596 foreclosures filed in August as reported by www.realtytrac. com was second only to California. Atlanta has historically been one the fastest-growing cities in the region, but overbuilding in the residential and office markets are taking their toll. Atlanta’s single-family housing permits are down more than 50 percent through August and its downtown and suburban office vacancy rates hit 21.1 percent and 18.2 percent, respectively.
Back to the 2009 Market Planning Guide