New commercial and multifamily construction forecast solid recovery in 2021

The value of commercial and multifamily construction starts in the top 20 metropolitan areas of the United States increased 18 percent from 2020 to 2021, according to Dodge Construction Network. Nationally, commercial and multifamily construction starts increased 16 percent in 2021. In the leading half (the top 10 metro areas), commercial and multifamily starts rose 18 percent in 2021, with two metro areas, Washington, D.C., and Los Angeles, posting a decline. In the lesser half of metro areas (those ranked 11 through 20), commercial and multifamily starts rose 17 percent in 2021, with Chicago and Nashville losing ground from 2020.

Commercial and multifamily construction starts staged a solid recovery in 2021 following stalled projects and growing uncertainties that plagued the industry in 2020. It bears noting, however, that commercial and multifamily construction starts remain below 2019 lev