In February, we showed how the construction industry has experienced steady growth over the past several years. To better understand where the market growth was happening, we drilled down to the city/county level to filter out the areas that have been consistently growing over the past three years.
Here are the top ten:
Several of the cities on the list including Atlanta and Miami Beach, were areas that were hit hardest during the real estate crisis and still have yet to surpass pre-recession activity. More generally, we observed that major cities within the Mid Alantic, Southeast and Pacific Northwest regions of the United States outperformed the National average.
Here are the five cities that have been declining most consistently over the past three years:
These cities were indicative of broader, regional trends as the Southwest and Midwest regions under-performed compared to the national average.
For the sake of comparison, here is a sampling of construction activity in major US cities:
Most major US cities fell in-line with the aforementioned regional trends.