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Chicagoland New Construction on Pace for Strong Year

by Peter Thomas Ricci

The latest analysis from Dodge Data provided an encouraging assessment of new construction in Chicagoland


According to the latest numbers from Dodge Data & Analytics, residential construction spending in the Chicagoland housing market totaled $397 million in November, and depending on what that number is compared to, that can be either good or bad news.

Although that total is a stark 59 percent below where construction spending was in Nov. 2014, year-over-year stats are often a misleading gauge on how a construction market is performing, as they vary considerably from month to month; year-to-date numbers, by contrast, are a much more accurate metric, and thus far in 2015, Chicagoland’s $4.44 billion in spending is a healthy 11 percent over the same time period last year.

For a broader view on the nation’s new construction markets, take a look at our infographic below:

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