{"id":11915,"date":"2024-02-26T23:11:31","date_gmt":"2024-02-26T23:11:31","guid":{"rendered":"https:\/\/www.buildzoom.com\/blog\/?p=11915"},"modified":"2024-02-26T23:12:56","modified_gmt":"2024-02-26T23:12:56","slug":"construction-industry-update-january-2024","status":"publish","type":"post","link":"https:\/\/www.buildzoom.com\/blog\/construction-industry-update-january-2024","title":{"rendered":"Construction Industry Update &#8211; January 2024"},"content":{"rendered":"\n<p>New construction in January 2024 started strong, with 6% growth over January 2023. This represents the 5th month in a row of positive YoY growth for new construction as the segment continues to rebound from a difficult 2023. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"795\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.53-PM-1024x795.png\" alt=\"\" class=\"wp-image-11916\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.53-PM-1024x795.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.53-PM-300x233.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.53-PM-768x596.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.53-PM.png 1492w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"821\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.08-PM-1024x821.png\" alt=\"\" class=\"wp-image-11917\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.08-PM-1024x821.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.08-PM-300x241.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.08-PM-768x616.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.08-PM.png 1474w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"674\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM-1024x674.png\" alt=\"\" class=\"wp-image-11918\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM-1024x674.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM-300x197.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM-768x506.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM-1536x1011.png 1536w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.54.16-PM.png 1668w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>In terms of annual growth, markets in the Southwest (+14%) and Southeast (+16%) drove were the primary growth drivers in the month, while midwest markets performed poorly (-9%). <\/p>\n\n\n\n<p>Turning to US renovations, the segments saw slightly negative YoY growth (-2%) in January.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"819\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.20-PM-1024x819.png\" alt=\"\" class=\"wp-image-11919\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.20-PM-1024x819.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.20-PM-300x240.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.20-PM-768x614.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.20-PM.png 1430w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"784\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.30-PM-1024x784.png\" alt=\"\" class=\"wp-image-11920\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.30-PM-1024x784.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.30-PM-300x230.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.30-PM-768x588.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.30-PM.png 1492w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Nationally, The segment has remained flat to slightly negative since March 2023. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"698\" src=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM-1024x698.png\" alt=\"\" class=\"wp-image-11921\" srcset=\"https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM-1024x698.png 1024w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM-300x205.png 300w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM-768x524.png 768w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM-1536x1048.png 1536w, https:\/\/www.buildzoom.com\/blog\/wp-content\/uploads\/Screenshot-2024-02-26-at-2.53.36-PM.png 1610w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Breaking the index down by US region, we see that markets in the Northeast are up 12% over last January, while Southwest markets are down -10% over last year, which may in part be due to expenditures matriculating from alterations to new construction in the region. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>New construction in January 2024 started strong, with 6% growth over January 2023. This represents the 5th month in a row of positive YoY growth for new construction as the segment continues to rebound from a difficult 2023. In terms of annual growth, markets in the Southwest (+14%) and Southeast (+16%) drove were the primary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1522],"tags":[],"class_list":{"0":"post-11915","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-market-trends","7":"entry","8":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/11915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/comments?post=11915"}],"version-history":[{"count":0,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/11915\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/media?parent=11915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/categories?post=11915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/tags?post=11915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}