Mixed Construction Data by Segment YTD 2023

Mixed Construction Horizontal - The Chemical Company

A wide gap in data has unfolded between commercial, non-building, and residential construction thus far in 2024. Residential construction and the housing market has cooled, with mortgage rates topping 8% and a drop in home sales and the number of houses on the market. In stark contrast to this, commercial, nonresidential and nonbuilding construction has stayed hot. Nonbuilding starts are up 20% for the period YTD August 2023, compared to the same period in 2022. Nonresidential starts were up 6% for that same period. In comparison, residential starts were 17% lower over that same period, a significant drop and gap between the three categories of construction. Strong non-residential construction may continue to drive the market for 2024.

Share:

Facebook
Twitter
LinkedIn
Email

Related Posts

Tariff Deadline of July 9 Looms

July 9th is the “self imposed” deadline for President Trump to make final decisions surrounding the IEEPA baseline and reciprocal tariff levels. In addition, the

June Oil Price Whiplash

Crude Oil prices fluctuated as much as $15/bbl throughout the month of June, highlighted by the conflict in Iran, headlines surrounding OPEC and the US’