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Construction Starts Haven't Yet Peaked

Within the up-and-down pattern of construction starts on a month-to-month basis is “a modest upward trend,” says Robert A. Murray at Dodge Data & Analytics.

By Paul Bubny | paulbubny | Updated on August 22, 2017

Photo of Robert A. Murray The third quarter of 2017 began “on a healthy note,” says Dodge’s Robert A. Murray.

NEW YORK CITY—The underlying message to take away from July’s 6% monthly increase in new construction starts? The second quarter’s 11% decline in the Dodge Index was not the last word on industry trends.

July’s increase, to a seasonally adjusted annual rate of $728.1 billion, “means the third quarter began on a healthy note, which should help to maintain the up-and-down pattern on a quarterly basis that’s been present for construction starts over the past year, says Robert A. Murray, chief economist for Dodge Data & Analytics. “Within that up-and-down pattern there remains a modest upward trend, as it appears that construction starts are still in the process of reaching a peak, as opposed to having already reached a peak.”

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