Commercial construction declines dragged down D-FW building in February
Housing starts in North Texas were basically flat in February, even as the number of non-residential buildings fell.
Housing starts in Dallas-Fort Worth increased 7% in February versus 2020, according to a new report from Dodge Data & Analytics.
At the same time, commercial and other non-residential construction activities in the D-FW area fell by 11%.
Housing starts of approximately $ 1.9 billion were reported in the region last month.
In the first two months of the year, housing starts in North Texas were 4% lower than in the same period in 2020. Housing starts totaled $ 3.8 billion, according to Dodge Data.
Housing starts across Germany fell by 2% in February.
“With spring just around the corner, hopes for a strong economic recovery, fueled by the growing number of vaccinated Americans, are growing,” said Richard Branch, chief economist at Dodge Data & Analytics, in the latest report. “The construction sector will hardly be able to benefit from this revival, however, as rapidly rising material prices and excess supply in many construction sectors will weigh on the first half of the year.”
Both residential and non-residential housing starts across the country fell 7% in February. Public works and non-construction works rose 20% over the month.
Starts of commercial construction projects in North Texas, including offices, retail and hotels, have declined sharply in the year since the COVID-19 pandemic began, but residential construction has continued at a rapid pace.
Despite the decline in the commercial sector, North Texas ranked second nationwide in 2020 with a total volume of nearly $ 24 billion. Construction work began only in New York City.