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Construction Starts Post 17% Increase in July

Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, Dodge Construction Network said Wednesday. Nonbuilding starts drove the increase, rising 38%, due to the start of a single large LNG facility in Texas. Residential starts rose 20%, while nonresidential building starts lost 6%.

Year-to-date through July, total construction starts were 7% below that of 2022, Dodge reported. Residential and nonresidential starts were down 21% and 7%, respectively; however, nonbuilding starts were up 20% on a YTD basis. On a trailing 12-month basis, total construction starts were 3% higher than that of 2022.

“Construction starts have plateaued and are making little headway,” said Richard Branch, chief economist for Dodge Construction Network. “Higher interest rates, labor shortages and material prices continue to impact the flow of construction starts — resulting in little forward momentum over the past 12 months. The lag in nonresidential building projects entering the planning stage will slow starts as the year progresses, which should be offset by rising infrastructure activity.”


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Dodge Construction

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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