Dodge Data & Analytics released its 2015 Dodge Construction Outlook, which predicts that total U.S. construction starts for 2015 will rise 9 percent to $612 billion, a larger gain than the 5 percent increase to $564 billion estimated for 2. Robert Murray, chief economist and vice president for Dodge Data & Analytics, said the construction expansion should become more broad-based in 2015 with support coming from more sectors than in recent years. "The economic environment going forward carries several positives that will help to further lift total construction starts," he said. "Financing for construction projects is becoming more available, reflecting some easing of bank lending standards, a greater focus on real estate development by the investment community, and more construction bond measures getting passed. While federal funding for construction programs is still constrained, states are now picking up some of the slack. Interest rates for the near term should stay low, and market fundamentals (occupancies and rents) for commercial building and multifamily housing continue to strengthen."
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