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Chicagoland new construction is surging in 2016

by Peter Thomas Ricci

new-construction-chicago-111-west-whacker-loop

The Chicagoland new construction market continued its sterling 2016 performance in July, according to new numbers from Dodge Data & Analytics.

In July, Chicagoland saw more than $897 million in total residential construction spending, a whopping 133 percent increase over July 2015. Chicagoland’s year-to-date construction spending now totals $4.224 billion, a 66 percent increase over the same time period last year that is far and away the best YTD growth of any large metro area.

See our chart below for more details on July’s new construction activity:

Metro Area Residential Construction Spending – July 2016 (in Millions) YOY Change YTD 2016 Construction Spending (in Millions) YOY Change
Atlanta $561 -27% $4,266 7%
Boston $235 -62% $2,786 9%
Chicago $897 133% $4,224 66%
Dallas $914 -3% $6,775 2%
Houston $719 -27% $5,352 -16%
Los Angeles $353 -62% $4,678 10%
Miami $854 -18% $4,218 1%
New York $1,347 -54% $11,820 -29%
San Francisco $193 -64% $2,345 14%
Seattle $343 -34% $2,730 -11%

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