Residential construction is gaining ground in many metropolitan areas in the U.S. Unfortunately, not everyone did so well in June.
McGraw-Hill released its June construction report this week, and the news confirmed more of what’s been taking place in Houston all year: construction is outpacing 2013.
In June, residential construction activity was up a considerable 10 percent year-over-year, bring total activity to more than $733 million. Similarly, though not as impressive, residential contracts awarded were up three percent year-over-year. Year-to-date, residential construction activity is well ahead of 2013, increasing 12 percent to nearly $5 billion. This increased activity should help to fill out the city’s dwindling inventory and satisfy persisting demand.
Check out our graph below to see how Houston compares with other metros: