Construction planning momentum cooled in January across most commercial and institutional sectors, according to the Dodge Momentum Index (DMI), which declined 6.3% to 272.7. 

The DMI — issued by Dodge Construction Network — tracks the three-month moving average of the value of nonresidential construction projects going into planning.

Over the month, commercial planning fell 7.2% and institutional planning momentum slowed by 4.4%.  

“Data center projects continue to lead the way, but after elevated activity in late 2025, most nonresidential sectors are now easing into a more sustainable growth pattern,” said Sarah Martin, Associate Director of Forecasting at Dodge Construction Network.

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On the commercial side, planning momentum slowed across all commercial sectors apart from retail stores. Within institutional planning, education, healthcare and public building planning slowed in January – while recreational and religious building projects continued to expand.  

Year-over-year, the DMI was up 29% when compared to January 2025. The commercial segment was up 26% (+17% when data centers are removed) and the institutional segment was up 34% over the same period.  

A total of 35 projects valued at $100 million or more entered planning throughout January.

The largest commercial projects included the $500 million IEP Data Center (Project Hummingbird) in Monongahela Township, PA, the $400 million Mountain Road Technology Park Data Center in Glen Allen, VA, and the $350 million Bitfarm Data Center in Nesquehoning, PA. The largest institutional projects to enter planning were the $250 million USACE Barracks in Fort Hood, TX, the $175 million UEPH Barracks at Joint Base Myer-Henderson in Arlington, VA, and the $148 million Eurofins Lancaster Biopharmaceutical Laboratory and Office Building in Lancaster, PA.