Construction starts down another 2% in December

The total number of construction starts decreased by 2% in December to a seasonally adjusted annual rate of $1.2 trillion according to the latest Dodge Construction Network (DCN) survey.

Nonresidential building starts grew by 2%, nonbuilding starts were 14% lower, and residential building starts grew by 4%. On a year-to-date basis through December, total construction starts were up 6%, nonresidential starts were up 4%, residential starts were up 7%, and nonbuilding starts were up by 7%. 

For the 12 months ending in December 2024, total construction starts were up 6% from the 12 months ending in December 2023. Residential starts were up 7%, nonresidential starts were up 4% and nonbuilding starts rose 7% over the same period.  

"Rate cuts prior to December supported some momentum in multifamily and commercial starts over the month," stated Sarah Martin, associate director of forecasting at Dodge C...

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