Chicago’s new construction market ended 2016 on a high note. It started to 2017 still hitting that same note, apparently.
A new report from Dodge Data & Analytics shows that in January, residential construction spending in Chicago skyrocketed over 110 percent, amounting to a gain of more than $450 million and making it one of the most active markets in the country. That’s after a 34 percent year over year residential construction spending gain in December, which capped off a year in which, overall, spending had increased 46 percent.
See our table below to see how Chicago compares against the other markets we cover:
| Metro area | Jan. 2017 | Jan. 2016 | Percent change |
|---|---|---|---|
| Atlanta | $536,391,000 | $630,154,000 | -15% |
| Boston | $169,022,000 | $495,061,000 | -66% |
| Chicago | $889,444,000 | $415,450,000 | 114% |
| Houston | $694,669,000 | $675,751,000 | 3% |
| Miami | $311,899,000 | $490,688,000 | -36% |