Residential construction spending rises in March

by Rincey Abraham


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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