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HAMILTON, NJ – (BUSINESS WIRE) – Total housing starts decreased 9% in August to a seasonally adjusted annual rate of $ 782.8 billion, according to Dodge Data & Analytics. All three sectors lost ground over the course of the month: housing starts in non-construction fell by 2%, housing starts by 9% and starts in non-residential construction by 13%.
“Construction has entered a difficult phase following the euphoria in the early stages of the 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 aggravate 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 indicates that the recovery in housing starts should resume at the beginning of the new year. ”
Below is the full breakdown:
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Non-building housing starts lost 2% in August to a seasonally adjusted annual rate of $ 167.8 billion. Housing starts in the public environmental works category (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. Environment public works starts were 22% higher and motorways and bridges starts increased 3% while Starts of utility and gas facilities on a rolling 12-month basis decreased by 17% and other non-construction starts decreased by 22%.
The largest non-construction projects that broke ground in August were the $ 677 million Oak Hill Parkway Roadway in Austin, TX, the $ 351 million south extension of the Kansas City streetcar system in Kansas City, Missouri, and the $ 300 million first phase of the Dunns Bridge Solar Project in Wheatfield Township, IN.
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Non-residential housing starts declined 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 start-ups decreased 10%, institutional start-ups decreased 15% and production starts decreased 37% after seeing a significant 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% in August 2021 .
The largest non-residential projects to break ground in August were the $ 800 million in Asheville, NC.
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Housing construction lost 9% in August to a seasonally adjusted rate of $ 370.2 billion. 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. The start-ups of single-family houses increased by 29%, while the start-ups of multi-family houses increased 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.
The largest apartment buildings that broke ground in August were the $ 615 million Flamingo Crossing Apartments in Winter Garden, FL, the $ 400 million 1018 West Peachtree Apartments in Atlanta, GA, and the $ 374 million -Dollar Victoria Place Gateway Tower in Honolulu, HI.
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In regional terms, housing starts in August have lost ground in all five regions.
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 untold 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 to promote projects, products, and services . To learn more, visit construction.com and thebluebook.com.
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