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Chicagoland new construction continues to post huge gains in 2016

by Peter Thomas Ricci

construction-worker-high-rise-building-builders

The Chicagoland new construction market is putting up some of the most impressive numbers in the nation this year, according to research from Dodge Data & Analytics.

In October, Chicagoland saw more than $361 million in total residential construction spending, which is actually a 52 percent decline from Oct. 2015. However, year-to-date construction spending is a much better indicator of the market’s overall health, and at $6.329 billion, Chicagoland’s market is up 51 percent over the same time period last year – far and away the best YTD growth of any large metro area.

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

Metro Area Residential Construction Spending – Oct. 2016 (in millions) YOY Change YTD 2016 Construction Spending (in millions) YOY Change
Atlanta $557 38% $6,533 21%
Boston $216 -29% $3,966 5%
Chicago $361 -52% $6,329 51%
Dallas $1,083 -13% $10,645 9%
Houston $895 20% $7,653 -14%
Los Angeles $742 35% $7,711 21%
Miami $1,108 217% $6,119 10%
New York $1,347 -2% $15,745 -23%
San Francisco $377 -27% $3,795 23%
Seattle $363 -50% $4,327 -10%

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