The recently released Forbes list of 20 US cities experiencing a new construction boom boasted a high concentration of cities in Texas.
Dallas, Houston and Austin were all included in the top 20. While California and Florida also had three cities on the list, cities in Texas undoubtedly had the best showing, with Dallas ranking at number two, behind New York City, and Houston coming in at number three.
The report was compiled by Forbes and McGraw Hill Construction using building data for the nation’s Metropolitan Statistical Areas (MSAs).
“We looked at the dollar amount of new construction starts, or projects where ground has been broken and work begun, for structures that fall under the “Total Building” umbrella,” wrote the Forbes team.
According to Forbes, “Total Building” includes single-family homes, multifamily homes, office space, retail space, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities. Pretty thorough, right?
The Dallas statistics included the Fort Worth and Arlington areas. From January to May 2013, there was $5.2 billion in construction starts, a 21 percent year-over-year change.
At number three, Houston saw $4.8 billion in construction starts, up 8 percent over the same period in 2012.
Austin, at number 15, saw the largest year-over-year jump in construction starts. From January to May 2013, there was $1.8 billion in construction starts, a year-over-year increase of 21 percent.
Now that’s what we call a boom.