The New York City metropolitan statistical area’ construction starts for January 2011 show a severe decline from the same month last year, reflecting the dramatic impact the COVID-19 pandemic has caused to the regional construction market, according a March 25 report by Dodge Data and Analytics.
Non-residential construction starts declined 82 percent to $792.947 million from $4.369,408 billion. The residential construction decline was less severe, 15 percent, from $1.823,626 billion to $1.555,480 billion.
Combined, the overall month-to-month decline of 64 percent reflected a decrease from $5.852,124 billion to $2.086,892 billion.
The year-to-date cumulative data is less severe, but still painful.
Non-residential construction declined 64 percent from $5.852,124 billion to $2.086,890 billion, while residential construction was near flat (4 percent contraction) from $3.276,925 billion to $3.156,375 billion. Overall there was a 43 percent decline from $9.129,049 billion to $5.243,267 billion.
The metropolitan statistical area of New York-Northern New Jersey-Long Island, consists of of Bergen, Bronx, Essex, Hudson, Hunterdon, Kings, Middlesex, Monmouth, Morris, Nassau, New York, Ocean, Passaic, Pike, Putnam, Queens, Richmond, Rockland, Somerset, Suffolk, Sussex, Union and Westchester in New Jersey, New York and Pennsylvania.
Nonresidential buildings include office, retail, hotels, warehouses, manufacturing, educational, healthcare, religious, government, recreational, and other buildings. Residential buildings include single family and multifamily housing.