{"id":11975,"date":"2024-09-12T21:15:54","date_gmt":"2024-09-12T21:15:54","guid":{"rendered":"https:\/\/www.buildzoom.com\/blog\/?p=11975"},"modified":"2024-09-12T21:15:56","modified_gmt":"2024-09-12T21:15:56","slug":"construction-market-trends-for-august-2024","status":"publish","type":"post","link":"https:\/\/www.buildzoom.com\/blog\/construction-market-trends-for-august-2024","title":{"rendered":"Construction Market Trends for August 2024"},"content":{"rendered":"\n

New construction activity for the US continued the pattern from July 2024 and decreased in August. This means a -5% change for new construction from a year-over-year point of view. Alteration activity also dipped again in August, although not as much in magnitude as new construction. For alterations, year-over-year growth remained positive at 1%.<\/p>\n\n\n\n

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Regionally, similar to last month, the Pacific region was the only one with positive August year-over-year growth for new construction activity. The most significant annual decline in August permit activity occurred in the Midwest and Southeast. <\/p>\n\n\n\n

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For alteration activity by region, the Pacific, Southwest, and Midwest markets were significant contributors to year-over-year growth. The Northeast continued to see negative year-over-year growth.<\/p>\n\n\n\n

Year-over-year permit activity for National MEP (mechanical, electrical, and plumbing) together saw a slight average decline.<\/p>\n\n\n\n

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Permit activity for ADUs remained the same between July and August 2024 but still saw a positive increase over last year, with 32% growth. However, compared to previous months, the rate of growth is decreasing. For reference, year-over-year growth was 46% and 40% in June and July, respectively. <\/p>\n\n\n\n

Solar installation activity decreased between July and August. Year-over-year growth was negative as well, though the extent of this year-over-year growth decline continues to slow down. <\/p>\n\n\n\n

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\\<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New construction activity for the US continued the pattern from July 2024 and decreased in August. This means a -5% change for new construction from a year-over-year point of view. Alteration activity also dipped again in August, although not as much in magnitude as new construction. For alterations, year-over-year growth remained positive at 1%. Regionally, […]<\/p>\n","protected":false},"author":1,"featured_media":11983,"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":[15,1522],"tags":[],"class_list":{"0":"post-11975","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-data","8":"category-market-trends","9":"entry"},"_links":{"self":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/11975","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=11975"}],"version-history":[{"count":0,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/11975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/media\/11983"}],"wp:attachment":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/media?parent=11975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/categories?post=11975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/tags?post=11975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}