New construction activity for the US dropped in December (-2.92%), and year-over-year there was a -4.56% decrease compared to December 2023. Alteration activity saw a similar decrease in December over November (-3.01%). However, year-over-year alteration performance saw an increase, coming in at +2.39% over December 2023.
Regionally, Southeast was the only region that had an increase in New Construction activity (+2.35%), the Pacific remained static (0.00% change), while the Northeast (-1.83%), the Southwest (-1.96%), and the Midwest (-5.50%) all saw a decrease.
For alteration activity by region, similarly only one region saw an increase in activity month-over-month, the Pacific region (+5.92%), while all other regions came in at a decrease: Southwest (-2.14%), Southeast (-2.52%), Northeast (-4.01%), and Midwest (-7.33%) respectively.
For MEP, looking at performance year-over-year, all three trades saw an increase: Electrical (+1.25%), Plumbing (+1.63%), and Mechanical (+6.62%)
Permit activity for ADUs saw a decline in December over November, with a -1.22% decrease. Year-over-year performance for ADU’s is also up, however it maintains its general downtrend, coming in at +18.34% For reference, year-over-year growth was 46% and 40% in June and July, respectively.
Solar installation activity had a decrease in December over November (-6.49%), and year-over-year growth is also coming in lower (-8.86%), however Solar is seeing an uptrend comparatively. For reference, year-over-year growth was -35% and -26% in June and July, respectively.
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