Menu

Report: U.S. Construction Starts Could Hit $700 Billion by 2018

Residential, tower and energy projects are expected to be main drivers.


Nation-wide, monthly multi-family groundbreakings have pretty much recovered to their pre-recession volume (400,000 units annualized).

It’s the single-family market that continues to hold back.

Single-family starts are only about half of what might be expected (600,000 units annualized versus 1.2 million), based on their history. Prospective buyers remain wary. The precipitous drop in home prices, extending through several years after the sub-prime mortgage mess came to light, combined with myriad wrenching foreclosures, have left scars that are taking a long time to heal.

Single-family housing starts have been so far below their normal level for so long, finding an outlet for the pent-up demand is becoming critical.

Click here for the entire article.

Source: Reed Construction Data

SPONSORED ADS