NEW YORK (McGraw-Hill) – The value of Texas construction starts will advance 16 percent to $52.5 billion this year, according to the 2010 Texas Construction Outlook from McGraw-Hill Construction.
Growth is expected for each of Texas’ major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.
Other highlights from the report:
- Housing starts in Texas are expected to advance 31 percent to $21.8 billion in 2010, with single-family housing growing 31 percent and multifamily housing gaining 34 percent.
- Nonresidential construction starts will slip 1 percent to $17.6 billion, suffering from declines in commercial and industrial starts.
- Federal stimulus funding will assist public works and utilities construction as starts rebound 21 percent to $13.1 billion in 2010.