Through the first quarter of this year, the dollar value of total construction starts was down 10% from the same period of last year, according to Dodge Data & Analytics’ latest report. The largest decline was in the non-building sector, which was down 34% from a year ago. Nonresidential building construction posted a 9% annual decline. However, homebuilding continued to rebound, showing a 12% year-over-year gain. The non-residential building market, despite the year-to-year decline, is showing some signs of strength. It posted a monthly increase of 23% in March, following February’s 5% monthly gain. The biggest gains were in the institutional building market, which soared 44% in March, according to Dodge.
2016 Construction Starts Down 10% Through First Quarter
May 18, 2016