{"id":12091,"date":"2024-12-19T19:01:39","date_gmt":"2024-12-19T19:01:39","guid":{"rendered":"https:\/\/www.buildzoom.com\/blog\/?p=12091"},"modified":"2024-12-19T19:01:41","modified_gmt":"2024-12-19T19:01:41","slug":"construction-market-trends-for-november-2024","status":"publish","type":"post","link":"https:\/\/www.buildzoom.com\/blog\/construction-market-trends-for-november-2024","title":{"rendered":"Construction Market Trends for November 2024"},"content":{"rendered":"\n

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.\u00a0 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.<\/p>\n\n\n\n

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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.<\/p>\n\n\n\n

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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.<\/p>\n\n\n\n

For MEP: Mechanical (+2.87%) and plumbing (+2.12%) showed year-over-year improvement, while electrical (-2.35%) showed negative year-over-year growth.<\/p>\n\n\n\n

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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.<\/p>\n\n\n\n

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%)<\/p>\n\n\n\n

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

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.\u00a0 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 […]<\/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":[50,7,15,1522],"tags":[],"class_list":{"0":"post-12091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-projects","7":"category-buildzoom","8":"category-market-data","9":"category-market-trends","10":"entry","11":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/12091","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=12091"}],"version-history":[{"count":0,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/posts\/12091\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/media?parent=12091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/categories?post=12091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buildzoom.com\/blog\/wp-json\/wp\/v2\/tags?post=12091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}