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Starts01-07-25 | Economic News

Starts

2024 Yearbook / 2025 Forecast
by Aaron Schmok, LASN

Year - Total
2024 - 1043
Total construction starts fell 6% in September to an annual rate of $1.1 trillion, though year-to-date activity was up 2% compared to 2023.

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Residential starts rose 7%, nonresidential building increased 2%, and nonbuilding construction declined 3%. Over the last 12 months, total starts edged up 1%, with residential gains of 6%, flat nonresidential activity, and a 4% drop in nonbuilding starts.

September starts fell 11%, with sharp declines in utility/gas plants (-30%) and environmental public works (-13%).

Year-to-date starts were down 3%, despite gains in highway/bridge projects (+3%).

Residential starts dipped 1%, with multi-family down 6% and single-family up 2%. Year-to-date, residential starts rose 7%, driven by a 17% increase in single-family activity. Nonresidential building starts dropped 6% in September, led by a 30% decline in manufacturing, while commercial activity rose 9%.

https://www.construction.com/company-news/construction-starts-slip-6-in-september/

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