The Houston new construction market concluded 2016 in underwhelming fashion, according to research from Dodge Data & Analytics.
In December, Houston saw more than $564 million in total residential construction spending, which is a 12 percent decline from Nov. 2015. Moreover, year-to-date construction spending, which tracked the metro area’s activity for all of 2016, was $8.925 billion, a 13 percent jump that was the best YTD growth of any large metro area. So Houston’s construction is still quite high, but it continues to fall from the highs of the past.
See our chart below for more details on 2016’s new construction activity:
| Metro Area | Residential Construction Spending – Dec. 2016 (in millions) | YOY Change | YTD 2016 Construction Spending (in millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $465 | 51% | $7,557 | 23% |
| Boston | $429 | 81% | $5,776 | 33% |
| Chicago | $452 | 34% | $7,230 | 46% |
| Dallas | $771 | -17% | $12,348 | 6% |
| Houston | $564 | -12% | $8,925 | -13% |
| Los Angeles | $836 | 112% | $9,140 | 27% |
| Miami | $618 | -7% | $7,129 | 7% |
| New York | $1,747 | -42% | $18,813 | -25% |
| San Francisco | $259 | 80% | $4,413 | 30% |
| Seattle | $281 | -26% | $5,134 | -6% |
| Washington, D.C. | $617 | -8% | $7,266 | 10% |