颁辞辞濒颈苍驳听n辞苍产耻颈濒诲颈苍驳听a肠迟颈惫颈迟测听l别补诲蝉听to a听b谤辞补诲别谤听slowdown
BOSTON,听MA听鈥斕齅arch听20, 2026听鈥�听Total construction starts听declined听13.2% in听February听to a seasonally adjusted听annual rate of听$1.08听trillion,听according to听.听Nonresidential building听starts听rebounded听by听17.8%,听residential starts听improved听8.3%,听and听nonbuilding starts听declined听49.4%听over the month.听On a year-to-date听basis, total construction starts were听down听1.9%听through February. Nonresidential starts were down听2.0%, residential starts were down听12.4%听and听nonbuilding starts听improved听by听9.9% over the same period.听For the 12 months ending听February听2026, total construction starts were up听5.2% from the 12 months ending听February听2025. Residential starts were down 6.3%, nonresidential starts were up听6.1%听and听nonbuilding was up听17.0%.听听听
鈥淎fter a weak start to the year, nonresidential and residential听building starts steadily rebounded听throughout February,鈥澨齭tated听Sarah Martin, Associate Director of Forecast at 糖心Vlog. 鈥淐onversely, nonbuilding activity slowed down last month 鈥� normalizing from elevated levels听in January.鈥�听
Residential听
Residential building starts听grew听by听8.3% in听February听to a seasonally adjusted annual rate of听$374听billion. Single family starts听increased听4.0%听m/m,听and听multifamily starts听expanded听by听15.9%听m/m.听On a year-to-date听basis, residential starts are down听12.4%,听with single family starts听down听17.5% and multifamily starts down听2.8%.听
For the 12 months ending听February听2026, total residential starts fell 6.3%. Single family starts fell听16.2% compared to the 12 months ending听February听2025, and multifamily starts increased听14.9% over the same period.听听
The largest multifamily structures to break ground in听February听were the $757 million Bay View Houses Renovation project in Canarsie, New York, the $311 million Universal Building听North听and $265 million Universal Building South within the Geneva Residential Conversion project in Washington, D.C.听听
Nonresidential听
Nonresidential building听starts听improved听17.8%听in听February听to听a seasonally adjusted annual rate of听$442听billion. Commercial starts were听up 48.5%, solely driven by the 159.6% m/m growth in offices and data centers. Meanwhile, stores (-4.7% m/m), parking garages (-23.1% m/m), hotels (-7.9% m/m) and warehouses (-12.1% m/m) all lost pace throughout February. Institutional starts also expanded 8.7% over the month,听alongside steady growth in education (+19.6% m/m) and the remaining institutional categories (+56.4%). Healthcare construction continued to pullback, dropping 46.6% m/m. After a strong January, manufacturing construction also slowed down, pulling back 54.1% m/m. On a year-to-date basis through February, nonresidential starts are down 2.0%. Commercial and industrial construction is up 22.9%, while institutional starts are down 22.7% over the same period.听听
For the 12 months ending听February听2026, total nonresidential starts were up听6.1% compared to the 12 months ending听February听2025. Commercial starts were up听20.2%, institutional starts听decreased听5.6%, and manufacturing starts were听up听12.9% over the same period.听听
The largest nonresidential building projects to break ground in听February听were听the $3 billion Google Data Center Campus (Project Meitner) in Miami,听Texas, the听$3 billion听Polaris Forge 2 AI Data Center in Harwood, North Dakota, and the听$1.53 billion听Tampa International Airport Airside D project in Tampa, Florida.听听
Nonbuilding
N辞苍产耻颈濒诲颈苍驳听construction听starts听decelerated听49.4% in听February听to a seasonally adjusted annual rate of听$265听billion.听After听nearly 200%听growth in January, electric power/utilities construction normalized in February and dropped 90.1% m/m.听Miscellaneous nonbuilding declined as well, falling back 12.3% over the month. Conversely, highways and bridges (+18.8% m/m)听and听environmental public works (+4.8% m/m)听saw improvements.听On a year-to-date basis through February, nonbuilding construction was up 9.9% alongside the 133.8% year-to-date growth in electric power/utilities. The remaining public works sectors, however, are seeing deeper year-to-date declines.听听
For the 12 months ending听February听2026, total nonbuilding starts were up听17.0%.听Environmental public works听fell听by听6.4% compared to the 12 months ending听February听2025.听Highway and bridge starts were听down听0.2%, miscellaneous nonbuilding starts were up听32.9%听and听utility/gas starts increased听59.3% over the same period.听听
The largest nonbuilding projects to break ground in听February听included the听$564 million听SR 400 (I-4) highway development in Celebration, Florida, the $389 million 1-94 reconstruction project in Romulus, Michigan and the $386 million Allegheny County Wet Weather Pump Station in Pittsburgh, Pennsylvania.听听
Regionally,听total construction starts in听February听rose听in听the听Midwest听(+41.0%听m/m)听and the West (+4.2% m/m). Meanwhile, starts receded in the Northeast (-38.1% m/m), the South Atlantic (-4.9% m/m) and听the South Central (-37.7% m/m).听听
