The construction market had an increase in March over February, and New Construction continued to remain fairly static year-over-year, and Alterations saw an increase.
New Construction Month over Month change: +7.51%; Year-over-Year Change: -0.01%
Alterations Month over Month change: +7.03%; Year-over-Year Change: +1.01%
Regionally, all regions saw an increase in both New Construction and Alteration activity month-over-month, with Southeast alterations seeing a significant increase.
Month-over-Month changes:
Pacific New Construction: +4.24%; Alterations: +1.24%
Southwest New Construction: +5.23%; Alterations: +2.23%
Midwest New Construction: +8.54%; Alterations: +8.97%
Southeast New Construction: +8.33%; Alterations: +20.93%
Northeast New Construction: +8.08%; Alterations: +2.11%
For Mechanical, Electrical, & Plumbing (MEP), all three trades saw increases in March over February, while Plumbing was the only trade that saw a decrease year-over-year.
Mechanical (HVAC) Month-over-month change: +0.57%; Year-over-Year Change: +1.17%;
Electrical Month-over-month: +6.25%; Year-over-Year Change: +3.65%
Plumbing Month-over-month change: +5.43%; Year-over-Year Change: -1.02%
ADU activity remains positive year-over-year, and has seen a small increase Month-over-month. Solar activity remains down Year-over-Year, however had an increase Month-over-month.
ADU year-over-year change: +11.14%; Month-over-month change: +1.19%
Solar year-over-year change: -5.07%; Month-over-month change: +4.57%
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