According to a recent report from Dodge Data & Analytics, commercial construction in North Texas activity dropped 44% in August as compared to a year ago which reflects a trend for most of this year. Overall, commercial building is down 27% for the area for the year. Residential building on the other hand, is up 24% for the month and 10% higher for the year. The total numbers are down 7%. In 2017 the area hit a record of $22 billion in construction starts which trailed only New York City for total building.
"For residential building, multifamily housing appears to be easing back in a broad sense from the strength shown earlier in 2018, and a similar pattern could be emerging for single family housing."Even with the slowdown in nonresidential building, the D-FW area had the second largest increase in the country in construction jobs in August.
The D-FW area added 13,000 construction jobs in the year ending August, and increase of 10 percent, according to the Associated General Contractors of America. Only the Houston area — with 28,900 more jobs — had a larger growth of construction employment during the year ending August.Read More