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Value of overall construction put in place U.S. 2005-2019, with forecasts to 2024

Published by Raynor de Best, May 27, 2021
In 2020, new construction put in place in the United States was valued at around 1.36 trillion U.S. dollars, a decline from 2019 due to the impact of COVID-19. Volatile disruptions are at the heart of this, such as emergency policies, lower oil prices, and social unrest before the 2020 presidential elections. Residential building construction was likely to account for one-third of the industry total: residential construction put in place is forecast to be valued at about 483 billion U.S. dollars in 2024. Non-residential construction spending is projected to amount to around 473 billion U.S. dollars. The value of new non-building constructionis predicted to come to about 273 billion U.S. dollars in 2024.

New construction spending in the United States from 2005 to 2019, with forecasts from 2020 to 2024 (in billion current U.S. dollars)

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Source

Release date

October 2020

Region

United States

Survey time period

Q3 2020

Special properties

Forecast from Q3 2020, based on Q2 2020 actuals

Supplementary notes

The figures have been taken from several publications.

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