By Gigi Wood – ForConstructionPROS.com – October 24, 2024
Dodge Construction Network reports that total construction starts fell 6% in September to a seasonally adjusted annual rate of $1.1 trillion.
When comparing month-to-month construction starts, numbers were down from August to September. Looking at year-over-year rates, though, construction starts improved slightly. The news comes from Dodge Construction Network, which monthly distributes its analysis of the construction sector.
Some highlights include:
- Total construction starts fell 6% in September to a seasonally adjusted annual rate of $1.1 trillion
- Nonbuilding starts fell 11%, residential starts were down 1%
- Nonresidential building starts were down 6% in September.
- On a year-to-date basis through September, total construction starts were up 2% from the first nine months of 2023
- Residential starts were up 7%, nonresidential buildings rose 2%, and nonbuilding starts were down 3%
- For the 12 months ending September 2024, total construction starts were up 1% from the 12 months ending September 2023.
- Residential starts were up 6%, nonresidential building starts were flat, and nonbuilding starts were down 4% on a 12-month rolling sum basis.