Residential construction has been making a tepid comeback in recent months; how did March play into that narrative?
Let’s put it this way – March was a wonderfully positive month for residential construction in the Houston area, according to the latest numbers that McGraw Hill Construction provided us.
At $756 million, the area’s total residential construction spending was among the highest of all major metro housing markets, and that super high total was positive by both yearly (6 percent) and year-to-date (a stratospheric 98 percent) measures.
Granted, the current new construction markets are primarily led by multifamily construction, which is notoriously erratic; case in point, Houston’s construction spending went from $382 million in January to $756 million in March! Thus, we shouldn’t be surprised if the numbers shift again when McGraw Hill Construction sends us April’s data.
To get a better idea of how Houston stacked up with the rest of the nation, check out our graphs below: