Growth in some sectors offset weakness in others.
BOSTON, MA 鈥� March 24, 2025 鈥� Total construction starts were up 0.5% in February to a seasonally adjusted annual rate of $1.1 trillion, according to . Nonresidential building starts grew 2%, residential starts decreased 1%, while nonbuilding starts were unchanged. On a year-to-date basis through February, total construction starts were down 2% from last year. Nonresidential starts were down 14%, residential starts were down 3% and nonbuilding starts were up by 16% over the same period.听
For the 12 months ending February 2025, total construction starts were up 3% from the 12 months ending February 2024. Residential starts were up 3%, nonresidential starts were flat, and nonbuilding starts rose 7% over the same period.听听
鈥淲hile increased uncertainty over the trajectory of monetary and fiscal policies may be informing some of the flat month-to-month trends 鈥� the largest construction sectors still saw growth in activity throughout February,鈥� stated Sarah Martin, associate director of forecasting at 抖阴下载网站. 鈥淪teady growth in planning activity throughout 2024 should support stronger construction starts in future months 鈥� but owners and developers will have to factor in higher risk around elevated material costs, supply chain volatility and further labor constraints.鈥�听
Nonbuilding听
Nonbuilding construction starts were flat in February at a seasonally adjusted annual rate of $334 billion. Highway and bridge starts and environmental public works both increased 8% but utility/gas starts were down 21% and miscellaneous nonbuilding starts receded 10% over the month. On a year-to-date basis through February, nonbuilding starts were up 16% in February – with utility/gas starts up 68%, miscellaneous nonbuilding down 5%, highway and bridge starts up 20%, and environmental public work starts up 1% over the same period.听听
For the 12 months ending February 2025, total nonbuilding starts were up 7%. Environmental public works led the way, improving 18% compared to the 12 months ending February 2024. Highway and bridge starts were up 7%, miscellaneous nonbuilding starts were up 16% and utility/gas starts were down 7% over the same period.听听
The largest nonbuilding projects to break ground in February were the $1.4 billion road work on the Westshore Interchange in Tampa, Florida, the $1.1 billion Kensico-Eastview Connection Tunnel and Shafts in Valhalla, New York and the $1.0 billion Aratina Solar farm in Boron, California.听听
Nonresidential听
Nonresidential building starts improved 2% in February to a seasonally adjusted annual rate of $402 billion. Commercial starts were 22% higher in February, alongside strong office, hotel, and parking garage starts. Institutional starts, on the other hand, were down 2% in February following weaker healthcare activity after a multi-billion-dollar hospital started in January. Manufacturing starts fell 48% over the month. On a year-to-date basis through February, nonresidential starts are down 14% compared to February 2024. Commercial starts are down 8% and institutional starts are up 11% over the same period.听听
For the 12 months ending February 2025, total nonresidential starts were flat compared to the 12 months ending February 2024. Commercial starts were up 7%, institutional starts improved 15%, and manufacturing starts were down 51% over the same period.听听
The largest nonresidential building projects to break ground in February were the $1.8 billion terminal at John Glenn Columbus Airport in Columbus, Ohio, the $1.5 billion Lyndon B. Johnson Hospital replacement in Houston, Texas and the $1.45 billion renovations to the Jacksonville Jaguars EverBank Stadium in Jacksonville, Florida.听听
Residential听
Residential building starts fell 1% in February to a seasonally adjusted annual rate of $401 billion. Single family starts increased by 1%, while multifamily starts fell back 6%. On a year-to-date basis through February, residential starts are down 3% when compared to February 2024 鈥� with single family starts up 2% and multifamily starts down 11%.听听
For the 12 months ending February 2025, total residential starts were up 3% – while single family starts were up 11% and multifamily starts were down 11% compared to the 12 months ending February 2024.听听
The largest multifamily structures to break ground in February were the $478 million condominiums at The Residences at 1428 Brickell in Miami, Florida, the $335 million Highbridge Apartment Building in Highbridge, New York and the $265 million Tower 2 at The Standard Residences Brickell in Miami, Florida.听听
Regionally, total construction starts in February rose in the Northeast, Midwest, South Atlantic and West, but fell in the South Central.听听听
