Dodge: Construction Starts Down 20.5% in November - Modern Distribution Management

Dodge: Construction Starts Down 20.5% in November

A lack of megaprojects normalized activity, though broader starts showed steady year-over-year gains.
Construction

Total U.S. construction starts sank 20.5% during November, according to Dodge Construction Network, with weak nonbuilding activity as the primary factor.

The construction project data and technology company’s monthly report said November construction starts were at a seasonally adjusted rate of $1.22 billion.

Nonresidential building starts fell 13.4% month-to-month; residential starts increased 13.3%; and nonbuilding dropped 43.7%.

On a year-to-date basis through November, total construction starts were up 5.1% from a year earlier, with nonres up 4.7%; residential down 4.9%; and nonbuilding up 17.5%.

For the 12 months ended November, total starts were up 5.7%, with nonres up 4.8%; residential down 3.6%; and nonbuilding up 18.0%.

“A lack of megaproject activity contributed to a weak November for construction starts,” stated Eric Gaus, Chief Economist at Dodge Construction Network. “There were only 2 structures over a billion dollars. Looking through the noise of the last two months, the trajectory of the last half of 2025 has been much better than the first half.” 

See Dodge Construction Network’s full November report here.

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