Houston’s new construction market ended 2016 on a low note. Fortunately, the tune was up an octave to start 2017
A new report from Dodge Data & Analytics shows that in January, residential construction spending in Houston was up 3 percent, from $675 million 12 months prior to $694 million. The increase, while slight, is a welcome sign after construction spending fell 12 percent year over year in December, and 13 percent from 2015 to 2016. Houston still faces rising costs and labor and plot shortages, but hopes are the increased activity will grow as the year goes on.
Check out our table below to see how Houston compares against the other markets we cover:
| Metro area | Jan. 2017 | Jan. 2016 | Percent change |
|---|---|---|---|
| Atlanta | $536,391,000 | $630,154,000 | -15% |
| Boston | $169,022,000 | $495,061,000 | -66% |
| Chicago | $889,444,000 | $415,450,000 | 114% |
| Houston | $694,669,000 | $675,751,000 | 3% |
| Miami | $311,899,000 | $490,688,000 | -36% |