In 2017, construction activity hit record highs here in the Dallas-Fort Worth area. Since then, though, there have been declines in construction starts in the region. Such activity is estimated to have dropped 10 percent in 2018. And recent statistics from Dodge Data & Analytics indicate that this trend of declines is continuing into this year.
The statistics regard construction starts in the Dallas-Fort Worth area in 2019’s first three months. According to this data, this quarter saw 16 percent fewer such starts (in dollar value) than 2018’s opening three months did. Activity was especially down in the nonresidential building sector, which saw a 19 percent drop.
The report points to March having seen a particularly pronounced decline in construction starts in the region, with activity levels coming in 25 percent lower than was the case in that month in 2018. This is very different from national trends. The U.S. as a whole actually saw significant increases in construction starts in March.
Do you think this trend of declines will continue throughout 2019? If it does, what impacts do you think it will have on construction firms in the region?
Trends in construction activity in an area can have many ramifications for the contractors who operate in that area. For one, it can influence what kinds of legal matters are likely to arise for such companies. How contractors respond when new and challenging legal issues arise in connection to changing market conditions matters a great deal. Skilled construction law attorneys can help contractors with protecting their goals and interests in such cases.