DFW Falls 7% in Commercial and Multifamily Construction Compared to Last Year

 In BLOG

Commercial and multifamily construction for Dallas- Fort Worth has declined by seven percent compared to last year. Although DFW took a hit, it isn’t the only metro area so see a decrease from 2018. New York, Miami, and Houston also saw a slip from the previous year.

The Dallas Morning News quotes Robert A. Murray, chief economist  for Dodge Data & Analytics, saying “So far in 2019, multifamily housing has settled back from last year’s robust amount, although this year’s volume can still be regarded as healthy by recent standards, as for commercial building, office construction starts in 2019 have seen modest expansion compared to last year, helped by groundbreaking for large office projects and the support coming from the continued strength of data center projects.”

In result of the declining of commercial and multifamily construction, other construction markets will also start to dwindle down. Then the future construction projects will also continue at a slower pace.

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