Dodge Data & Analytics released new statistics on money spent on new Houston construction Thursday. The report considered all May 2017 constructions starts in the Houston area.
There was a positive percent change for nonresidential construction starts between this year and last, according to the report. Houston’s total in nonresidential construction starts equaled $1,320,932,000 while last year’s was $598,892,000. However, residential building decreased in 2017 with starts totaling $820,133,000 while 2016 saw a greater total expenditure of $857,561,000.
Residential building’s percent change ended up as -4 percent, a considerable decline from nonresidential’s positive percent change. The numbers put total beginning building in Houston for May at $2,141,065,000 in 2017, a 47 percent change from 2016 which ended with $1,456,453,0000 spent.
According to the report, money spent on residential construction starts stayed consistent since last year with no percent change whereas nonresidential building saw a small increase from last year. In the cumulative year-to-date numbers, nonresidential building in 2017 equaled $3,562,327,000 versus 2016’s $3,328,302,000. Both building categories had positive percent changes thus making the total change (nonresidential and residential construction starts) 3 percent.
These positive numbers conflict with earlier reports of money spent on construction decreasing in Houston. According to past Dodge Data & Analytics reports, April of this year saw a -40 percent change in nonresidential construction and a decrease of 12 percent for total building compared to April 2016. Total building percent change for May was 47 percent, a drastic increase from April. Nonresidential building’s year-to-date number was low with a change of -18 percent between April 2016 and 2017 compared to May’s 7 percent change.
|Construction Type||May 2017||May 2016||Percent Change|
|Construction Type||YTD 2017||YTD 2016||Percent Change|
Source: Dodge Data & Analytics