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Monthly Update: Construction Activity

October '22, Latest Data
Published on 11/30/22

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Construction contracts awarded in the metro Houston area totaled $33.9 billion through the first ten months of ’22, up from $26.6 billion compared to the same period in ’21, according to the latest  report from Dodge Data & Analytics.

  • Non-residential contracts totaled $15.8 billion, up 111.0 percent from $7.5 billion over the comparable period in ’21.
  • Residential contracts totaled $12.6 billion, up 1.5 percent from $12.4 billion in ’21.

The pace of residential construction has slowed recently. In January, February and March of this year, residential activity was up 66.8 percent compared to the same period in ’21. However, in the most recent three months (August, September, October), activity was down 4.7 percent. Q2/22 saw a 5.7 percent decrease in activity. Rising mortgage rates, higher home prices, and sagging consumer confidence have begun to weigh on residential construction. 

Non-residential activity saw dramatic growth, up 218.3 percent in the most recent three months versus the comparable period in ’21. The region has seen a surge in manufacturing-related  construction.  

Prepared by Greater Houston Partnership Research

Patrick Jankowski, CERP
Chief Economist 
Senior Vice President, Research
pjankowski@houston.org

Clara Richardson
Research Associate
crichardson@houston.org

 

 

Building Activity Key Economic Indicators
$2.2 billion

Construction starts in Houston totaled $2.2 billion in October '22.

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