New construction activity for the US dropped in November (-5.52%), however it was not as much of a drop as it was last year, with Nov 2023 coming in at a -7.3% decrease. A small decrease is expected in December. Alteration activity saw a similar decrease in November over October (-5.33%). Year-over-year alteration performance was static, with no change over last year.
Regionally, all regions saw a decrease, as expected, with the Northeast seeing the smallest decrease (-2.67%), followed by Pacific (-3.42%), Southeast (-3.95%), Southwest (-5.56%), and the Midwest (-6.03%) having the largest decrease.
For alteration activity by region, similarly all of them had a decrease in November. The smallest decrease was in the Pacific (-2.27%), followed by the Northeast (3.58%), Southeast (-5.18%), Southwest (5.28%), and the Midwest (-8.02%) also having the largest decrease.
For MEP: Mechanical (+2.87%) and plumbing (+2.12%) showed year-over-year improvement, while electrical (-2.35%) showed negative year-over-year growth.
Permit activity for ADUs remains mostly static from July through to November 2024, with year-over-year growth rates remaining positive at 21.15%. However, compared to previous months, the rate of growth is slowly declining. For reference, year-over-year growth was 46% and 40% in June and July, respectively.
Solar installation activity had a small decrease in November over October (-5.71%), and year-over-year growth is also coming in lower (-10.47%)
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