Greater Houston construction activity sees big decline in August

According to a new Dodge Data & Analytics report, the value of the Houston area construction project, which began in August, experienced a sharp decline each year in terms of residential and non-residents.

Non-residential construction, including offices, retail stores, hotels, health care, and religious facilities, began, with $ 41 million in August, down 24{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} year on year. Meanwhile, residential start-ups, including single-family homes and apartments, fell 11 percent to $ 987 million.

Overall building start-up declined 16{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, to $ 1.29 billion in August, down from $ 1.54 billion a year earlier.

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From August every year, construction projects total $ 11.6 billion, housing projects account for 60{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of the total. Non-resident starts are currently down 39{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, while resident starts are down 15{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.

Overall, the value of the new construction project decreased 27 percent from $ 15.7 billion in the first eight months of 2018.

Dodge Data & Analytics tracks construction in areas including Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto, and Waller County.