Total construction starts rose 3% in April to a seasonally adjusted annual rate of $945.8 billion, according to Dodge Construction Network. Nonresidential building starts rose 6% and residential starts increased by 4%, while nonbuilding starts fell 4%.

Prices of materials and services used in new nonresidential construction leaped nearly 21 percent in April from year-ago levels, according to an analysis of government data by the Associated General Contractors of America. 

Civil contractors continue to be optimistic about their business prospects in the 1Q2022 survey published in the latest edition of The Civil Quarterly (TCQ) from Dodge Construction Network.

The Associated General Contractors of America and Procore Technologies, Inc., announced that they have met their initial fundraising goal of $500,000 for a new scholarship to support minority students studying construction at the nation’s Historically Black Colleges & Universities (HBCUs).

Total construction starts fell 12% in March to a seasonally adjusted annual rate of $903.8 billion, according to Dodge Construction Network.

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability.

Construction employment climbed by 19,000 jobs between February and March, while spending on construction projects rose for the 12th month in a row in February, according to an analysis of government data by the Associated General Contractors of America.

Higher mortgage rates and construction costs pushed new home sales lower in February even as demand remains solid due to a lack of existing home inventory.

Despite production bottlenecks and rising construction costs, total housing starts led by a strong multifamily reading posted a solid gain in February as demand stays strong and existing inventory remains at low levels.

Prices of construction materials used in new nonresidential construction jumped more than 21 percent from February 2021 to February 2022, according to an analysis by the Associated General Contractors of America of government data.