Building in the Bay City Making Significant Progress
Residential construction spending in the Boston area was up 76 percent year-over-year in June, and so far in 2015 is 30 percent ahead of where it was last year.
Those encouraging stats came courtesy of the latest Dodge Data & Analytics report, a monthly look at residential construction activity in the nation’s largest metro areas.
Boston Agent assembled a series of graphs on Dodge Data’s findings. Below is total residential construction spending in June:
Overall construction activity remains relatively low in Boston, with its annual rate of $343 million far behind Atlanta, Dallas, Houston, Los Angeles and Miami.
Boston’s year-over-year growth, though, is among the best in the nation:
Yearly stats, however, can be volatile, and an area’s year-to-date progress is a better indicator of the market’s actual health:
At 30 percent, Boston’s year-to-date measurements are also among the nation’s best, and they strongly indicate that Boston is due for its best year of new construction activity since the downturn.