New construction starts moved 5% lower in September to a seasonally adjusted annual rate of $774.1 billion, according to Dodge Data & Analytics. By major sector, nonbuilding construction fell 13% in September, while residential construction dropped 6%. On the plus side, nonresidential construction starts rose 1% during the month aided by the start of a large manufacturing project.
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Last week, Dodge Data & Analytics released the First Half 2019 Commercial and Multifamily Construction Starts for the Top 20 metropolitan areas in the U.S. Within the top ten markets, six reported greater activity in 2019 and out of the top twenty markets, thirteen were able to register gains. At the national level, the volume of commercial and multifamily construction starts in 2019 was $101.4B, down 6% from last year’s $107.4 billion.
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According to Dodge Data & Analytics, new construction starts in June advanced 9% from the previous month with increases in nonresidential building, office buildings, public buildings, healthcare facilities, and warehouses. However, through the first six months of 2019, total construction starts on an unadjusted basis were down 8% from the same period a year ago.
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According to Dodge Data & Analytics, two of the three main construction sectors registered weaker activity in February – nonbuilding construction fell 8 percent, due to a pullback by its public works segment, while residential building slipped 3 percent. Meanwhile, nonresidential building in February was able to hold steady with its January pace.
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In February, nine projects each with a value of $100 million or more entered planning. The leading commercial building projects were the $200 million Keurig/Dr. Pepper office project in Frisco TX and a $200 million mixed-use development in San Jose CA.
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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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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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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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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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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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