Total construction starts decreased 2% in December to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonresidential building starts grew 2%, nonbuilding starts moved 14% lower, while residential building starts grew 4%.
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Dodge Momentum Index up 10.2%
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, grew 10.2% in December to 212.0 (2000=100) from the revised November reading of 192.3. Over the month, commercial planning increased 14.2% while institutional planning improved 2.5%. “Commercial activity rebounded strongly in December, thanks to a re-acceleration in data center and warehouse planning activity,” stated Sarah Martin, associate director of forecasting…
Read MoreHousing Starts End 2024 on a High Note
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable lots. Overall housing starts increased 15.8% in December to a seasonally adjusted annual rate of 1.50 million units, according to a report from the U.S. Department of Housing and Urban…
Read MoreSingle-Family Starts Post Solid Gain in November
Ongoing lean levels of single-family existing home inventory helped to boost single-family production last month, while overall housing production fell because of a double-digit percentage drop in multifamily output. Overall housing starts decreased 1.8% in November to a seasonally adjusted annual rate of 1.29 million units, according to a report from the U.S. Department of Housing and Urban Development and…
Read MoreConstruction Spending Unchanged in November; Highways Up
According to the U.S. Census Bureau, construction spending during November 2024 was estimated at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from (±1.0%) the revised October estimate of $2,152.3 billion. The November figure is 3.0% (±1.5%) above the November 2023 estimate of $2,090.7 billion. During the first 11 months of this year, construction spending amounted to $1,986.8…
Read MoreConstruction Starts Rise in November; Highways Down
Total construction starts increased 5% in November to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonresidential building starts grew 2%, nonbuilding starts moved 16% higher, while residential building starts fell 1%.
Read MoreDodge Momentum Index Down in November
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 2.3% in November to 191.5 (2000=100) from the revised October reading of 196.0. Over the month, commercial planning fell 4.6% while institutional planning improved 2.5%. “Throughout 2024, we’ve seen robust growth in nonresidential planning activity – but labor shortages and high construction costs have prevented those projects from…
Read MoreGreat Lakes Limestone Trade Down in November
Shipments of limestone on the Great Lakes totaled nearly 3 million tons in November, a decrease of 4.9% compared to a year ago. Limestone cargos were a mere 8,340 tons below the month’s five-year average.
Read MoreConstruction Spending Rises in October
Construction spending during October 2024 was estimated at a seasonally adjusted annual rate of $2,174.0 billion, 0.4% (±1.2%) above the revised September estimate of $2,164.7 billion. The October figure is 5.0% (±1.5%) above the October 2023 estimate of $2,071.1 billion. During the first 10 months of this year, construction spending amounted to $1,814.8 billion, 7.2% (±1.2%) above the $1,693.2 billion…
Read MoreNew Home Sales Decline in October
Steadily rising mortgage rates coupled with ongoing affordability challenges kept many potential home buyers on the sidelines in October.
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