Value of commercial and multifamily starts increases in first half of 2021 – study

And within the high 10 metro areas, business and multifamily building begins had been up 12% to $43.9 billion by means of six months, with solely three metro areas – Washington DC, Los Angeles, Calif., and Austin, Texas – posting declines.

Knowledge confirmed that the New York metropolitan space was the highest marketplace for business and multifamily begins by means of six months at $12.6 billion, an 8% enhance from the primary half of 2020.

In the meantime, the Dallas metropolitan space was in second place for business and multifamily begins, totaling $4.5 billion by means of six months, a 12% achieve over 2020. The Washington DC metro space was ranked third by means of six months however misplaced 7% to $4.3 billion.

The remaining high 10 metropolitan areas by means of the primary half of 2021 had been Boston, Mass., which was up 34% ($4.0 billion); Miami, Fla., up 26% ($3.5 billion); Los Angeles, Calif., down 22% ($3.4 billion); Philadelphia, Pa., up 86% ($3.3 billion); Seattle, Wash., up 61% ($3.2 billion); Atlanta, Ga., up 2% ($2.5 billion); and Austin, Texas, down lower than one share level ($2.5 billion).

General, the highest 10 metropolitan areas accounted for 40% of all business and multifamily begins in america – the identical share as within the first six months of 2020.

Source link