The total number of construction starts increased by 5% in November to a seasonally adjusted annual rate of $1.2 trillion. According to Dodge Construction Network, nonresidential building starts grew by 2%, nonbuilding starts were 16% high, and residential starts fell by 1%.For the 12 months ending November 2024, total construction starts were up 4% from the 12 months ending November 2023. Residential starts were up 7%, nonresidential starts were up 2%, and nonbuilding starts rose 4% over the same period. The number of manufacturing starts was down 52%."Construction starts continue to move sideways as the market waits for further rate cuts," Richard Branch, the chief economist of Dodge Construction Network, stated. "Elevated interest rates, labor shortages, and strict lending standards will continue to constrain construction activity in the near term."Related: Architecture Business Metrics Begin To Turn Positive: Archinects State of AEC November 2024The largest nonbuilding proj...