CHICAGO—US construction starts are expected to increase 3% fordollar volume of $765 billion in 2018, although building sectorsrelated to commercial real estate will decelerate, Dodge Data &Analytics said Thursday. The firm's latest Construction Outlookreport was presented at its 79th annual Outlook ExecutiveConference here.
While single-family residential starts are expected to grow 9%in dollar volume and 7% in units next year, multifamily willretreat 8% in dollars and 11% in units to 425,000, or half theprojected number of single-family homes projected to launchconstruction in '18. Dodge says multifamily's strength appears tohave peaked in 2016 and has begun to wane, given slightdeterioration in market fundamentals and a more cautious tonesounded by lenders.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
