Single-family starts flattened in November as builders struggled to meet demand, while overall housing starts increased 1.2% to a seasonally adjusted annual rate of 1.55 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Construction Starts Dip in November
Total construction starts fell 2% in November to a seasonally adjusted annual rate of $797.5 billion following a strong gain in October. Residential starts fell 7% during the month, while nonbuilding starts dropped 14%. Nonresidential building construction starts, however, rose 19% in November. Total construction starts fell in three regions, the South Atlantic, West and Northeast, but rose in two, the Midwest and South Central.
Read MoreARTBA: Modest Declines Expected in 2021 for Transportation Construction
The U.S. transportation construction market is expected to shrink 5.5% next year, driven primarily by the severe economic recession caused by the coronavirus pandemic, according to the annual forecast released by the Washington, D.C.-based American Road & Transportation Builders Association (ARTBA).
Read MoreDodge Momentum Index Steps Lower in November
The Dodge Momentum Index fell 2.6% in November to 123.3 (2000=100) from the revised October reading of 126.5. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The institutional component of the Momentum Index fell 4.4%, while…
Read MoreConstruction Spending Up Slightly in October
The U.S. Census Bureau announced that construction spending during October 2020 was estimated at a seasonally adjusted annual rate of $1,438.5 billion, 1.3% (±1.0%) above the revised September estimate of $1,420.4 billion. The October figure is 3.7% (±1.3%) above the October 2019 estimate of $1,386.8 billion.
Read MoreConstruction Starts Rebound in October; Highways Surge Higher
Total construction starts rose 12% in October to a seasonally adjusted annual rate of $787.9 billon. While sizeable, the increase does not erase September’s substantial pullback in starts. All three major categories moved higher over the month, nonbuilding starts rose 25%, nonresidential buildings increased 19%, while residential activity gained 2%. Four of the five regions saw construction starts move higher in October, with the…
Read MoreDodge Data & Analytics Expects Construction Starts to Recover in 2021
Dodge Data & Analytics offered its 2021 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts will increase 4% in 2021, to $771 billion.
Read MoreDodge Momentum Index Posts Dip in October
The Dodge Momentum Index fell 1.8% in October to 127.5 (2000=100) from the revised September reading of 129.8. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Read MoreConstruction Spending Ticks Up; Highways Dealt a Setback
The U.S. Census Bureau announced that construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3% (±1.0%) above the revised August estimate of $1,410.4 billion. The September figure is 1.5% (±1.3%) above the September 2019 estimate of $1,393.3 billion.
Read MoreSeptember New Home Sales Pause Following Strong Summer Surge
Sales of newly built, single-family homes in September fell 3.5% to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the September rate is 32.1% higher than the September 2019 pace, and on a year-to-date basis, new home sales…
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