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Nonresidential construction rates fall in Houston, report finds

by Jessica Hamrick

new construction spending residential houston miami chicago boston atlanta

Though the amount of construction in Houston might seem abundant to its residents, the dollar amount spent on construction starts is actually on the decline throughout the city. A recent report by Dodge Data & Analytics reveals that the total amount spent on building starts dropped to $1.2 billion in July 2017. This is a 10 percent decrease from the $1.3 billion spent in the same month just last year.

The most significant dip in construction rates comes from the amount attributed to nonresidential buildings, which fell to $437.2 million. This is a 32 percent decrease from the $644.6 million spent on offices, warehouses, hotels and other recreational buildings in July 2016. However, residential starts did experience a slight bump in spending – rising 11 percent to $763.5 million.

By the numbers, the data shows that the total construction starts did increase slightly year-to-date. With nonresidential construction increasing to $5.3 billion for 2017 so far, an 11 percent gain compared to the $4.5 billion spent through July of 2016. Comparatively, residential starts saw almost no change, leveling out at around $5.5 billion for both 2017 and 2016. 

Source: Dodge Data & Analytics

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