Forecast Sees Resi as Top Driver of Building Starts

Tight housing inventories will propel demand for new construction, says ConstructConnect.

CINCINNATI—US construction starts are expected to grow at a slower pace in 2018, moderating to 3% although forecast to grow annually at nearly 5% over the following four years, construction data firm ConstructConnect says in its Spring 2018 forecast. That’s due partially to a normalization from several mega-projects started at the end of 2017.

The forecast is presented against a macroeconomic backdrop that includes a forecast of GDP growing to 2.8% this year from 2.3% in ’17, as well as the advent of the new tax package and improving global trade.