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“Total construction starts are expected to rise 6% in 2022, following a 12% increase in 2021, says Richard Branch, chief economist at Dodge Construction Network. The 2021 increase will bring total starts to $893 billion, with a rise to $946 billion in 2022.”
“Commercial starts, a category that includes stores, offices, warehouses, hotels and parking, dropped 20% in 2020 amid the pandemic restrictions. As those ease, a 15% increase is expected for 2021, followed by an additional 12% jump in 2022.” Of the various commercial sectors, warehouse construction had the best performance this year with a 36% increase, followed by an anticipated gain of 13% in 2022.
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