Building in the Bayou City Stepping Back

Residential construction spending in the Houston area was down 10 percent year-over-year in June, and so far in 2015 is only 1 percent ahead of where it was last year.

Those encouraging stats came courtesy of the latest Dodge Data & Analytics report, a monthly look at residential construction activity in the nation’s largest metro areas.

Houston Agent assembled a series of graphs on Dodge Data’s findings. Below is total residential construction spending in June:

Overall construction activity remains very high in Houston, with its annual rate of $814 million only behind Dallas and New York.

Houston’s year-over-year growth, though, suggests the market is slowing down:

Yearly stats, however, can be volatile, and an area’s year-to-date progress is a better indicator of the market’s actual health:

At 1 percent, Houston’s year-to-date measurements are also relatively weak, and they indicate that though construction remains very high in the Bayou City, it is slowing down.