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Tag: Construction starts

2018 Commercial and multifamily construction starts showed mixed performance across top metros

Dodge Data & Analytics announced the leading U.S. metropolitan areas for commercial and multifamily construction starts registered a varied performance during 2018 compared to the previous year. Of the top ten markets, ranked by the dollar amount of construction starts, four reported greater activity in 2018 while six showed declines. At the national level, the volume of commercial and multifamily construction starts in 2018 was $212.4 billion, up 4%, which represented a moderate rebound after a 3% setback in 2017.

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October Construction Starts Rebound

New construction starts in October climbed 21% to a seasonally adjusted annual rate of $864.0 billion, according to Dodge Data & Analytics.  The substantial increase followed three straight months of decline, during which the pace of total construction starts fell 22% from the exceptionally strong volume reported back in June. 

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New Construction Starts Forecast to Hold Steady in 2019

Dodge Data & Analytics October 25, released its 2019 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts for 2019 will be $808 billion, staying essentially even with the $807 billion estimated for 2018. 

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August Construction Starts Fall 9 Percent

The value of new construction starts in August decreased 9% from the previous month to a seasonally adjusted annual rate of $741.9 billion, according to Dodge Data & Analytics. By major sector, weaker activity was reported in August for nonresidential building, down 19%; and residential building, down 7%.  On the plus side, nonbuilding construction in August advanced 6%, reflecting a steady performance by public works as well as improvement for electric utilities following depressed activity earlier this year. 

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First Half 2018 Commercial and Multifamily Construction Starts Show Mixed Performance

During the first half of 2018, five of the top ten metropolitan markets for commercial and multifamily construction starts ranked by dollar volume showed increased activity compared to a year ago, according to Dodge Data & Analytics.  Of the top twenty markets, eleven were able to register gains.  At the national level, the volume of commercial and multifamily construction starts during the first half of 2018 was $101.4 billion, down 1% from last year’s first half, although still 2% above what was reported during the first half of 2016. 

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Dodge Momentum Index Moves Higher in June

In June, the commercial component of the Momentum Index moved 1.1% higher, while the institutional component eked out a 0.3% gain. June’s advance marks the fifth straight monthly increase for the Momentum Index, which is now nearing a ten-year high, and suggests that the moderate strengthening of construction activity currently underway will continue through the end of 2018.

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May Construction Starts Climb 15 Percent

At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15% from April, according to Dodge Data & Analytics.  The increase follows a 12% decline in April, and shows total construction activity reaching the highest level reported over the past eight months.  The lift in May came from substantial gains for nonbuilding construction, up 39%; and nonresidential building, up 18%; as both sectors benefited from the start of several very large projects.

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Dodge Momentum Index Moves Higher in April

The Dodge Momentum Index jumped 6.1% in April to 163.0 (2000=100) from the revised March reading of 153.7. Over the last two months the commercial portion of the Momentum Index has posted the most aggressive growth, fueled by continued low vacancy rates for commercial buildings as well as the potential benefits from the tax cuts passed in December.

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March National Starts: Audio Commentary from Robert Murray

New construction starts in March increased 11% from the previous month to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The substantial gain followed modest declines in January (down 2%) and February (down 3%), and brings the pace of total construction starts to the highest level over the past six months.

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Summary of the National Construction Starts

by Dodge Chief Economist Robert Murray

National Construction Starts by Dodge Chief Economist Robert Murray

The February statistics produced a reading of 150 for the Dodge Index (2000=100), compared to 154 for January.  “The 152 average for the Dodge Index during the first two months of 2018 is the same as the 152 average reported for the fourth quarter of 2017, as the pace of construction starts viewed over several months seems to have leveled off,” stated Robert A. Murray, chief economist for Dodge Data & Analytics.  “What’s important to keep in mind is that the moderately subdued amount for total construction starts during the first two months of 2018 reflects diminished activity by public works and electric utilities, which given their inherent volatility are likely to bounce back over the next month or two.  Compared to last year’s fourth quarter, the first two months of 2018 have seen further increases for nonresidential building, helped by its institutional building segment, and residential building, helped by multifamily housing.  This suggests that the construction expansion, while slowing, is still in progress.”

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NOVEMBER-DECEMBER 2018 PRISM Sustainability in the Built Environment featuring resilient design, specifying green walls, interior design in healthcare facilities, healthcare facility sustainable design, and the final part of the series The Economics of Biophilia: Communities.

NOVEMBER-DECEMBER 2018 PRISM Sustainability in the Built Environment featuring resilient design, specifying green walls, interior design in healthcare facilities, healthcare facility sustainable design, and the final part of the series The Economics of Biophilia: Communities.

Guide to Green Building – Product of the Week

Photo: Cedar Rapids Public Library (Cedar Rapids, IA)- LEED Platinum. SageGlass® is advanced dynamic glass that can be electronically tinted or cleared to optimize daylight and improve the human experience in buildings. SageGlass enables you to control sunlight and glare without blinds or shades, maintaining your view and connection to the outdoors and significantly reducing energy consumption. With an ever growing list of LEED certified installations, SageGlass is committed to USGBC’s mission of sustaining eco-friendly building interiors and conserving energy, benefitting everyone in the built environment.

Photo: Cedar Rapids Public Library (Cedar Rapids, IA)- LEED Platinum. SageGlass® is advanced dynamic glass that can be electronically tinted or cleared to optimize daylight and improve the human experience in buildings. SageGlass enables you to control sunlight and glare without blinds or shades, maintaining your view and connection to the outdoors and significantly reducing energy consumption. With an ever growing list of LEED certified installations, SageGlass is committed to USGBC’s mission of sustaining eco-friendly building interiors and conserving energy, benefitting everyone in the built environment.

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