Dodge Construction Network provided new insights on construction starts, noting in an update that total starts were up 3.1 percent in September to a seasonally adjusted annual rate of $1.26 trillion.
Nonresidential building starts rose 11.9 percent, residential starts improved 3.6 percent and nonbuilding starts fell 6.2 percent across the month.
On a year-to-date basis through September, total construction starts are up 3.5 percent from 2024. Nonresidential starts are up 5 percent, residential starts are down 4.2 percent and nonbuilding starts are 10.8 percent higher.
“September construction starts data marks the third month of steady improvements,” says Eric Gaus, chief economist at Dodge Construction Network. “However, a 3 percent growth rate is just keeping up with inflation, and we need fourth-quarter growth of 25 percent to match annual growth of 2024. Megaprojects continue to provide significant report; just six projects accounted for 12 percent of the total value in September.”
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