Commercial and Multifamily Starts Up 24% in First Half of 2022
During the first six months of the year, the value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 24% from 2021, according to Dodge Construction Network.
Nationally, commercial and multifamily construction starts increased 18% year-to-date. In the top 10 metro areas, commercial and multifamily starts rose 28% in the first six months of 2022 compared to that of 2021. Three metro areas (Seattle, Washington, Los Angeles, California, and Philadelphia, Pennsylvania) posted a decline. In metro areas ranked 11 through 20, commercial and multifamily starts rose 16% on year-to-date through six months, although five metro areas (Boston, Massachusetts, Chicago, Illinois, Nashville, Tennessee, Minneapolis, Minnesota, and Kansas City, Missouri) slipped from the first half of 2021.