0
0
0

Housing construction up in Boston, but still lagging long term

by Barbara O’Connor

building-green-sustainable-carbon-war-room-GRESB-development

Dodge Data & Analytics released new statistics on money spent on new Boston construction Thursday. The report considered all May 2017 constructions starts in the Boston area.

There was an 89 percent increase for nonresidential construction starts between May of this year and last, according to the report. Boston’s total in nonresidential construction starts equaled $822,120,000 while last year’s was $435,152,000. Residential building increased as well, but not by nearly as much.

In May, residential building starts totaled $447,656,000 while 2016 saw a total expenditure of $421,406,000. Unlike the extreme jump seen in nonresidential construction, residential saw a 6 percent change. The numbers put total beginning building in Boston for the year at $1.269 billion in 2017, a 48 percent increase from 2016 which ended with $856,558,000 spent.

Year-to-date Differences

According to the report, nonresidential building saw a 26 percent increase in the year-to-date numbers between this year and last. Money spent on residential construction starts saw a significant decrease from $2.453 billion in 2016 to $1.418 billion in 2017. Residential construction’s change of negative 42 percent brought down the percent change for total building (nonresidential and residential construction starts) to negative 10 percent.

Nonresidential construction’s high percent change follows a trend seen in April of total money spent on building. Although the numbers in April reflect similar boosts in nonresidential building and declines in residential on a year-to-date basis, May’s findings show promise. Total building change for the month was 48 percent versus April’s 37 percent, Dodge Data & Analytics reports. Year-to-date percent changes also improved from -24 percent to -10 percent.

Construction Type May 2017 May 2016 Percent Change
Nonresidential $822,120,000 $435,152,000 89
Residential $447,656,000 $421,406,000 6
Total Building $1,269,776,000 $856,558,000 48

 

Year-to-date numbers

Construction Type YTD 2017 YTD 2016 Percent Change
Nonresidential $2,800,972,000 $2,217,363,000 26
Residential $1,418,396,000 $2,453,545,000 -42
Total Building $4,219,368,000 $4,670,908,000 -10


Source: Dodge Data and Analytics 

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.