This year is shaping up to be another strong one for new construction in Houston.
After several years of prominence, it seems that Houston’s new construction marketplace is poised for another strong year in 2015.
According to the latest analysis from Dodge Data & Analytics (DDA), residential construction spending in the Houston area totaled roughly $920 million in March, which places it second only to the mighty New York in total spending. See our graph below for more perspective:
On a year-over-year basis, the news is a bit more lukewarm. Though Houston spending is still up from March 2014’s $821 million, that represents just a 12 percent increase, which is on the low side.
Our second graph looks at year-over-year changes in spending:
Still, even with that stat, year-to-date increases remain substantial. Thus far in 2015, residential spending has totaled $2.7 billion, a 23 percent increase from the $2.192 billion in the same period of 2014.
See our graph below for a final look at DDA’s numbers, this time on a year-to-date fashion:
