editorial

Severe Weather Knocks Housing Starts Down

Nationwide housing starts fell 2 percent to a seasonally adjusted annual rate of 1.065 million units in January, according to newly released data from the U.S. Commerce Department. This drop was mainly due to a 22.2 percent decrease in the Midwest.

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New Construction Starts Decrease

N ew construction starts in December retreated 16 percent to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13 percent increase reported for total construction starts in November, when activity reached its highest level in 2014.

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Construction Spending Ends Month, Year on High Note

The U.S. Census Bureau of the Department of Commerce reported that construction spending during December 2014 was estimated at a seasonally adjusted annual rate of $982.1 billion, 0.4 percent (±1.3 percent) above the revised November estimate of $978.6 billion. The December figure is 2.2 percent (±1.6 percent) above the December 2013 estimate of $961.2 billion.

Read more: Construction Spending Ends Month, Year on High Note

November Construction Jumps 13 Percent

At a seasonally adjusted annual rate of $677.8 billion, new construction starts in November climbed 13 percent from the previous month, according to Dodge Data & Analytics (formerly McGraw Hill Construction). Nonresidential building had a particularly strong month, lifted by the start of several unusually large projects, including two massive manufacturing plants and an airport terminal redevelopment. The nonbuilding construction sector also contributed to the latest month’s surge, boosted by a liquefied natural gas facility.

Read more: November Construction Jumps 13 Percent

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