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Residential construction spending rises in March

by Rincey Abraham

Construction-houston-texas-home-starts-sales-inventory-decline-2015

As spring gets into full swing, construction activity is starting to pick up. Residential construction activity grew in Houston in March compared to the previous year, according to a new report from Dodge Data & Analytics.

March 2017’s residential construction spending is up 7 percent compared to March 2016, rising to more than $825 million. Additionally, residential spending is up 3 percent on a year-to-date cumulative basis, rising from $2.21 billion in March 2016 to $2.28 billion in March 2017.

However, nonresidential spending is down 4 percent compared to 2016. In March 2017, spending is $750 million while spending was $782 million in March 2016. It is down 14 percent on a year-to-date cumulative basis from $2.21 billion to $1.89 billion this year.

Total construction activity is up 2 percent compared to last year to $1.58 billion. However, it is down six percent on a year-to-date cumulative basis from $4.43 billion last year to $4.18 billion this year.

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