HAMILTON, NJ – (BUSINESS WIRE) – Aug. September 2021–
Overall housing starts fell 9% to a seasonally adjusted annual rate of $ 782.8 billion in August, according to Dodge Data & Analytics. All three sectors lost ground during the month: non-construction starts fell 2%, residential starts fell 9% and non-residential starts fell 13%.
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Start of construction August 2021 (Source: Dodge Data & Analytics)
“Construction has entered a difficult phase after the euphoria in the early stages of recovery from the pandemic,” said Richard Branch, chief economist at Dodge Data & Analytics. “The Delta variant has raised concerns that the emerging economic recovery is stalling and undermining the already low demand for most types of non-residential buildings. In addition, significant increases in the price of building materials, logistical constraints and labor shortages exacerbate the difficult situation. Housing starts are likely to remain uncertain over the next few months. However, the dollar value of the projects in the pipeline still suggests that the recovery in housing starts should resume at the beginning of the new year. “
Below is the full breakdown:
- Non-building constructionbegins lost 2% in August to a seasonally adjusted annual rate of $ 167.8 billion. Housing starts in the category of public environmental works (water-related projects) increased by 4%, while other housing starts (heavy pipelines) increased by 14%. Meanwhile, freeway and bridge start-ups were 4% lower and utility / gas facilities fell 21% after a sizeable increase in July. In the course of the year to date, total starts in non-construction up to August increased by 1%. Public environmental works increased 23% and utility / gas plant start-ups increased less than a percentage point through August. In the first eight months of the year, launches in the highways / bridges (-2%) and other non-construction sectors (-19%) declined.
In the 12 months to August 2021, total no-construction starts were 2% lower than in the 12 months to August 2020. Construction starts for environmental public works were 22% higher and highway and bridge starts increased 3% while starts from supply and gas systems on a rolling 12-month basis by 17% and other non-construction starts by 22%.
The largest non-construction projects with the groundbreaking ceremony in August were the $ 677 million Oak Hill Parkway street in Austin, TX; the $ 351 million south extension of the Kansas City streetcar system in Kansas City, MO; and the $ 300 million first phase of Dunns Bridge Solar Project in Wheatfield Township, IN.
- Non-residential begins fell 13% in August to a seasonally adjusted annual rate of $ 244.9 billion. The declines were broadly based across all building types with few glimpses of light. Commercial startups decreased 10%, institutional startups decreased 15% and production starts decreased 37% after seeing a sizeable increase in July. Despite overall losses, there were increases in the retail, parking and public buildings sectors. Housing starts for non-residential buildings have been 3% higher for the past eight months. Commercial starts increased 2% and production starts increased 33%. Institutional launches, however, were 1% lower over eight months.
In the 12 months to August 2021, non-residential housing starts were 8% lower than in the 12 months to August 2020. Commercial housing starts decreased 8%, institutional housing starts decreased 4% and production starts decreased 29% August 2021.
Groundbreaking for the largest non-residential construction projects in August were the $ 800 million first phase of the Facebook Eastmark Parkway data center in Mesa, AZ, the $ 400 million Facebook data center in Springfield, NE, and the $ 350 million Pratt & Whitney Project Ranger Manufacturing facility in Asheville, NC.
- Housing begins lost 9% to a seasonally adjusted $ 370.2 billion in August. The number of start-ups in single-family houses decreased by 12% in August, while the number of start-ups in multi-family houses increased by 1%. Over eight months, the start of housing was 24% higher than in the same period of the previous year. Single family starts increased by 29%, while multiple family starts rose by 13%.
In the 12 months to August 2021, total new startups in residential buildings were 21% higher than in the 12 months to August 2020. Single-family startups increased by 28%, while multi-family startups increased by 2% on a 12-month total.
Groundbreaking for the largest apartment buildings in August included the $ 615 million Flamingo Crossing Apartments in Winter Garden, FL; the $ 400 million 1018 West Peachtree Apartments in Atlanta, GA; and the $ 374 million Victoria Place Gateway Tower in Honolulu, HI.
- Regional, Total housing starts lost ground in all five regions in August.
About Dodge Data & Analytics
Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting and analysis services, and workflow integration solutions for the construction industry. Construction product manufacturers, architects, engineers, contractors and service providers use Dodge to identify and pursue unimagined growth opportunities that will help them grow their business. At the local, regional or national level, Dodge enables customers to better understand their markets, uncover key relationships, seize growth opportunities and successfully pursue specific sales opportunities. The company’s construction project information is the most comprehensive and verified in the industry.
On April 15, Dodge Data & Analytics and The Blue Book – the largest and most active network in the US commercial construction industry – merged their businesses. The Blue Book Network offers three unparalleled databases of companies, projects and people.
Dodge and The Blue Book offer over 10 billion data items and over 14 million project and document searches. Together, they provide a unified approach to new business development, business planning, research, and marketing services that users can leverage to find the best partners to complete projects and connect with customers and prospects about projects, products, and services to apply. To learn more, visit construction.com and thebluebook.com.
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CONTACT: Allison Heard
104 Western partners
KEYWORD: NEW JERSEY UNITED STATES NORTH AMERICA
INDUSTRY KEY: COMMERCIAL CONSTRUCTION & REAL ESTATE SOFTWARE CONSTRUCTION & REAL ESTATE DATA MANAGEMENT URBAN PLANNING TECHNOLOGY REIT RESIDENTIAL CONSTRUCTION & REAL ESTATE
SOURCE: Dodge Data & Analytics
Copyright Business Wire 2021.
PUB: 09/20/2021 08:35 AM / DISC: 09/20/2021 08:36 AM
Copyright Business Wire 2021.