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Residential building starts fall in September

by Reno Manuele

Fewer homes are being built in the Boston-Cambridge-Quincy MSA, but nonresidential buildings are seeing a surge in spending this year, according to Dodge Data & Analytics.

Nonresidential construction starts soared in September, rising from $416.8 million last year to $696.8 million in September, a staggering 67 percent increase. In stark contrast, residential building starts bottomed out to $373.8 million, a 35 percent decrease $579 million in the same time last year.

Year-to-date spending for residential construction also fell significantly from last year. The 2016 total was $3.9 billion, but this year, there’s been an 18 percent decrease in spending to $3.2 billion. On the flip side, nonresidential building starts have picked up slightly from September 2016, rising from $5.7 billion to $5.8 billion last month.

In total, so far this year, there’s been a 6 percent decrease in construction starts across the board.

Source: Dodge Data & Analytics

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