Dec 22, 2020 | Dallas Morning News
North Texas starts of all types of construction saw a decline in November.
The biggest drop in activity was a 41% decrease in nonresidential building compared with 2019 levels, according to a new report from Dodge Data & Analytics.
And residential building starts were also down 5% from a year ago.
Through the first 11 months of 2020, commercial building activity has fallen 14% from the same period last year.
At the same time, residential starts are up 11% year-to-date thanks to a surge single-family home starts in the area this year.
Almost $22 billion in building starts have been recorded in North Texas this year – down only 1% from the first 11 months of 2019, Dodge Data reports.
Nationwide construction starts were down 12% through November compared with the same period last year.
Nonresidential building activity has fallen 25% this year while residential starts have been 3% higher than in the first 11 months of 2019.
“November construction starts were somewhat of a mixed bag,” Richard Branch, Chief Economist for Dodge Data & Analytics, said in the latest report. “And despite the November decline in single family starts, tremendous positive momentum remains in the housing sector.
“There remains significant concern, however, about the ability of construction starts to maintain their current pace in the face of rising COVID-19 cases,” he said. “While the near-term outlook for starts remains cloudy, the recent deployment of a vaccine in the U.S. raises hope and expectation that 2021 will be a better year.”
Through the third quarter, the D-FW area ranked country’s second-largest building market.