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May 25, 2016

Where to Find the Most New Construction

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Where to Find the Most New Construction

For buyers on the hunt for something “new,” where will they likely have the best luck in finding it? Forbes.com used Dodge Data to evaluate building data of major cities and surrounding suburbs across the country to find the areas where the most money was spent on new-home construction in 2015.

The list includes constructions starts for single-family and multifamily homes, office, retail, warehouse, and other commercial projects as well.

Here are the metros that topped its list:

1. New York, N.Y.

  • 2015 construction starts: $46.6 billion
  • Year-over-year change: 44%

2. Dallas, Texas

  • 2015 construction starts: $17.8 billion
  • Year-over-year change: 19%

3. Houston, Texas

  • 2015 construction starts: $16.7 billion
  • Year-over-year change: -49%

4. Los Angeles, Calif.

  • 2015 construction starts: $11.7 billion
  • Year-over-year change: 4%

5. Chicago, Ill.

  • 2015 construction starts: $11.5 billion
  • Year-over-year change: 4%

6. Washington, D.C.

  • 2015 construction starts: $11.3 billion
  • Year-over-year change:-7%

7. Miami, Fla.

  • 2015 construction starts: $10.3 billion
  • Year-over-year change: 3%

8. Boston, Mass.

  • 2015 construction starts: $9.4 billion
  • Year-over-year change: 9%

9. Atlanta, Ga.

  • 2015 construction starts: $9.4 billion
  • Year-over-year change: flat

10. Seattle, Wash.

  • 2015 construction starts: $9.1 billion
  • Year-over-year change:-1%

11. Lake Charles, La.

  • 2015 construction starts: $8.4 billion
  • Year-over-year change: 1,918%

12. Phoenix, Ariz.

  • 2015 construction starts: $8.1 billion
  • Year-over-year change: 17%

Source: “Building Boom Towns: The Metro Areas With the Most New Construction,” Forbes.com (Feb. 10, 2016)