Dollar value of construction in Chicagoland slides in September

Chicago’s September construction starts slide for nonresidential; residential hits pause
  • Amid a continually rising tide of homebuilder confidence nationally, residential construction dropped a bit, by 2 percent.
  • Nonresidential slid only 28 percent from 2014’s cumulative number to September, while residential has gained a healthy 32 percent in the same time period.
  • The area studied is the metropolitan statistical area of Chicago-Naperville-Joliet.

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Call it a pause, a hiccup or no big deal, residential housing starts stuttered a bit in September. Construction data deep thinkers Dodge Data & Analytics recently cranked out its monthly tallies on overall construction in Chicagoland, and the data show a big divot in non-home building, and maybe a double bogey for residential construction. Amid a continually rising tide of homebuilder confidence nationally, residential construction dropped a bit, by 2 percent. Still a big number, the value of that construction from the same period last year went from just over $362 million to about $353.5 million this September. The National Association of Home Builders' confidence benchmark went up three points in October to 64. The index has been in the 60s since June, a sign of momentum that the group says is the best since 2005. Chicagoland’s building boom went bust year-over-year on the nonresidential side, dropping 54 percent. Since the drop was so large, residential and nonres...