October was a good month for the Houston real estate development market. According to Dodge Data & Analytics, October construction starts grew a healthy 51% over last year’s October. At $1.7 billion, most of the gain was in the non-residential sector, with an increase of $736 million, up from $276 million in 2018.
Residential projects also increased, totaling $963 million in October, up almost 15%, from $845.5 million a year ago.
Over the last five years, construction has averaged $1.5 billion a month in Houston, according to the Greater Houston Partnership.
Despite the October uptick, building starts are off about 15% year-t0-date, with $15.5 billion through October, down from $18.2 billion last year.
Contact Troy Corman for residential and commercial development land for sale in Houston and Dallas at 832-759-1523 or 214-690-9682.