Construction News: Dodge Forecasts 7% Starts Growth through End of 2021

Construction headline tracker includes: materials costs outstrip bid prices; 30 years after levying the tax, LA starts a new road; largest public project ever in RI enters final phase; US craftsmen hand-hew new truss for Paris’ Notre Dame Cathedral Total construction starts in the U.S. are expected to increase by 7% in the remainder of 2021. That’s the latest from Dodge Data Chief Economist Richard Branch. A lot of progress has been made since February of 2020 when the pandemic began and, says Branch, the latest in delta variant outbreaks has curbed the progression. Economies in some states such as Idaho, Nebraska, Montana and Rhode Island have recovered completely, while the Mid Atlantic region continues to lag behind. Branch also says the rise in single-family home construction is solid, expanding 9% thus far in 2021. However, threatening rises in materials prices continue to challenge the industry. Multifamily building starts are at a 5% pace for the year while nonresidential-sector starts continue at a 9% increase. READ FULL ARTICLE>>