Dallas-Fort Worth commercial construction surge underway to close out the year
An increase in home construction for commercial and non-residential buildings led to an increase in construction activity in Dallas-Fort Worth in November.
Construction starts for non-residential buildings in the D-FW area rose 60% last month compared to November 2020 levels, according to the latest survey by Dodge Data & Analytics. Housing starts fell by 19% compared to the previous year.
In the first 11 months of 2021, the entire construction activity of D-FW is 16% higher than in the same period of the previous year. The largest increases were in commercial and non-residential construction with an increase in construction activity of 19% compared to the previous year.
Construction activity declined 14% nationwide in November, according to Dodge Data. Construction activity for non-residential buildings decreased by 21% across the country.
“As projects continue, the near-term outlook remains bleak due to continued escalation in material prices and labor shortages,” said Richard Branch, chief economist for Dodge Construction Network, in the report. “Although construction should have some postponement in 2022, these challenges will limit the industry’s ability to capitalize on both the large number of projects being planned and the funding that will come from the infrastructure package.
“The result will be moderate growth in housing starts in the short term.”
D-FW is the second largest hardware store in the country this year – behind New York City.
According to Dodge Data, the D-FW area saw construction starts of $ 14.6 billion in the first half of 2021. About two-thirds of new construction activity in North Texas was residential.
And total housing starts increased 24% from the first half of 2020.