The value of overall construction output in the United States grew by over 131 billion U.S. dollars in 2023. That refers to all construction activities, including the construction of buildings and infrastructure, as well as other specialized activities, such as roofing, HVAC, and plumbing installation, among others.

The construction sector during recessionsThe strength of the construction industry generally tends to parallel that of the nation’s economy. After the Great Recession in 2008, there was a noticeable decrease in the value of new construction put in place in the United States, as it can be observed in this statistic. Nevertheless, both public and private construction spending in the U.S. kept increasing in 2020 despite the effects of the start of the COVID-19 pandemic in the economy.Construction worker shortageTo sustain growth, there are several challenges that the construction industry in the U.S. has faced in the past years. The shortage if skilled labor in the construction industry has been one of the most notable barriers to growth in the industry in the past couple of years. The industry is facing that challenge at a time in which there is also a high demand for new buildings, as there was a significant housing shortage in metropolitan areas all throughout the United States.

Graph and download economic data for Total Construction Spending: Total Construction in the United States (TTLCONS) from Jan 1993 to Jan 2025 about headline figure, expenditures, construction, and USA.

The value of new residential construction put in place in the United States fell in 2023, and it is expected to decrease again in 2024. These figures refer to the construction of single-family and multi-family housing, as well as to the value of the home improvements segment, which includes additions, alterations and major replacements. Non-residential construction spending is rose significantly in 2023.

In 2023, Texas had the highest construction spending by the state and local governments in the United States. Meanwhile, those government levels spent 46 billion U.S. dollars in California, which was a much higher amount than in New York, Florida, or any other state. It is important to consider, nevertheless, that these figures do not show the total construction output of the territory, but only public spending by those government levels.What elements determine construction value?Several factors play into the value of the construction put in place such as the costs in which each project incurs. Contractors facing shortages in construction materials or a rise in their cost are some of the situations that can cause an increase in the construction value. It is also necessary to factor in the cost of labor of construction workers in non-supervisory and in managerial positions, as well as that of specialized workers such as engineers and architects. Finally, taxes and fees, the contractor’s profit, and other costs are also considered.Which states have the highest construction costs?Some of the U.S. cities with the highest costs for construction materials, installation, and composite correspond to the states with more value of construction put in place. Similarly, the wages in the private construction sector of those U.S. states, such as New York, California, and Texas, were also above the national average. Although Florida ranks low in the aforementioned aspects, it has been one of the states with the most residential building permits issued during the last couple of years.

United States Construction VIP: saar: Private: Warehouse: Mini Storage data was reported at 5.593 USD bn in May 2018. This records a decrease from the previous number of 5.761 USD bn for Apr 2018. United States Construction VIP: saar: Private: Warehouse: Mini Storage data is updated monthly, averaging 0.903 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 5.761 USD bn in Apr 2018 and a record low of 0.000 USD bn in Apr 1993. United States Construction VIP: saar: Private: Warehouse: Mini Storage data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data was reported at 4.791 USD bn in May 2018. This records an increase from the previous number of 4.134 USD bn for Apr 2018. United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data is updated monthly, averaging 4.108 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 13.027 USD bn in Oct 1996 and a record low of 1.195 USD bn in Aug 2003. United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

The new constructions put in place in the United States in 2023 were valued at almost two trillion U.S. dollars. In the coming years, the value of construction is expected to keep growing, reaching roughly 2.3 trillion U.S. dollars in 2028. Construction spending has been growing steadily over the last couple of years. Up to 2021, residential building construction spending also increased.

United States Construction VIP: Public: SL: Health Care: Hospital data was reported at 0.413 USD bn in May 2018. This records a decrease from the previous number of 0.417 USD bn for Apr 2018. United States Construction VIP: Public: SL: Health Care: Hospital data is updated monthly, averaging 0.303 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 0.528 USD bn in Oct 2007 and a record low of 0.083 USD bn in Feb 1993. United States Construction VIP: Public: SL: Health Care: Hospital data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA001: Value of Construction Put in Place (VIP): Current Price.

Graph and download economic data for Public Residential Buildings, Value of New Construction Put in Place (Constant Dollars) for United States (M0276BUSM382SNBR) from Jan 1946 to Dec 1963 about public, buildings, residential, construction, new, real, and USA.

Graph and download economic data for Total Construction Spending: Nonresidential in the United States (TLNRESCONS) from Jan 2002 to Jan 2025 about nonresidential, expenditures, construction, and USA.

Graph and download economic data for Total Private Construction Spending: Nonresidential in the United States (PNRESCON) from Jan 1993 to Jan 2025 about nonresidential, expenditures, construction, private, and USA.

Graph and download economic data for Total Public Construction Spending: Nonresidential in the United States (PBNRESCONS) from Jan 2002 to Jan 2025 about public, nonresidential, expenditures, construction, and USA.

Single-family housing construction in the U.S. fell by nearly 62 billion U.S. dollars in 2023, but it is expected to increase slightly in 2024. During the coming years, the overall spending on new residential construction in the United States is also expected to recover from a decrease in value experienced in 2023 and 2024.

United States Construction VIP: saar: Private: Commercial: Auto: Service/Part data was reported at 3.151 USD bn in May 2018. This records a decrease from the previous number of 3.210 USD bn for Apr 2018. United States Construction VIP: saar: Private: Commercial: Auto: Service/Part data is updated monthly, averaging 2.288 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 4.668 USD bn in Apr 2017 and a record low of 0.690 USD bn in Aug 1993. United States Construction VIP: saar: Private: Commercial: Auto: Service/Part data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

Graph and download economic data for Total Construction Spending: Educational in the United States (TLEDUCON) from Jan 2002 to Jan 2025 about expenditures, education, construction, and USA.

Based on planned construction development over the next few years, the value of non-residential construction put in place in 2028 in the United States is expected to reach roughly 870 billion U.S. dollars. Non-residential construction can include segments like the construction of lodging, offices, commercial buildings, health care, and education. Generally, the U.S. construction industry is linked to the economic wellbeing of the country. Construction industry needs Within the non-residential building industry, commercial building construction in the U.S. increased considerably in 2022. However, the construction industry faces challenges such as the rising construction costs. The modernization of a typically conservative industry will be important in the near future to support customer demands and to improve operation models. Integrating sustainable building processes and features in projects as well as establishing technological advancements like building information modeling (BIM) will be essential for the future of the construction industry. Non-residential vs. residential During the past years, new residential construction in the United States usually had a higher value than non-residential construction. Until 2019, the values of new residential and non-residential construction had remained fairly similar. However, the value of new residential construction started quite fast between 2020 and 2022. Nevertheless, the number of permits for private housing construction started decreasing in late 2022 and early 2023.

The U.S. Census Bureau provides monthly estimates of the total dollar value of construction work done in the United States as part of the Value of Construction Put in Place Survey (VIP). Includes construction related to passenger terminals, mass transit, railroad, maintenance facilities, and freight terminals.

The U.S. Census Bureau provides monthly estimates of the total dollar value of construction work done in the United States as part of the Value of Construction Put in Place Survey (VIP). Includes construction related to pavement, lighting, retaining walls, tunnels, bridges, toll/weigh facilities, maintenance buildings, and rest facilities.

United States Construction VIP: saar: Nonresidential data was reported at 767.131 USD bn in Sep 2018. This records a decrease from the previous number of 769.137 USD bn for Aug 2018. United States Construction VIP: saar: Nonresidential data is updated monthly, averaging 501.333 USD bn from Jan 1993 (Median) to Sep 2018, with 309 observations. The data reached an all-time high of 769.137 USD bn in Aug 2018 and a record low of 144.221 USD bn in Apr 1993. United States Construction VIP: saar: Nonresidential data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s United States – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

Graph and download economic data for Total Private Construction Spending: Commercial in the United States (PRCOMCON) from Jan 1993 to Jan 2025 about expenditures, commercial, construction, private, and USA.