Dodge Data & Analytics, New York, has reported construction starts fell 20.5% in November 2025 after surging 21.1% in October 2025.
Nonresidential building construction fell 13.4% in November 2025 as manufacturing starts plunged 50.7% and commercial starts fell 25.8%. Institutional starts rose 11.4%.
Residential building construction climbed 13.3% in November 2025. Single-family housing increased 3.1%, and multifamily starts jumped 35.6%.
Nonbuilding construction declined 43.7% in November 2025.
For the 12 months ending November 2025, total construction starts were up 5.7% compared with the 12 months ending November 2024. Nonbuilding construction rose 18%; nonresidential building climbed 4.8%; and residential building fell 3.6%.
“A lack of megaproject activity contributed to a weak November for construction starts,” said Eric Gaus, chief economist at Dodge Construction Network. “There were only two structures over a billion dollars. Looking through the noise of the last two months, the trajectory of the last half of 2025 has been much better than the first half.”
