By Haley Crimmins on May 3rd, 2021
Dallas is booming. The market cemented its position as the #1 U.S. market for commercial real estate construction during the Covid-19 era despite the challenges of the pandemic.
In the period from Q2 2020 through Q1 2021, Dallas construction starts grew 24% year-over-year. The value of starts was just over twice as large as the next biggest market, Los Angeles. Los Angeles outperformed Dallas in only the retail sector.
Industrial accounted for 33% of all construction starts in Dallas during the Covid era. The #2 market for industrial construction starts was the Inland Empire, though in this market there was little else that was started and it placed at #23 in the overall ranking.
The apartment sector represented the majority of starts in all but five of the top 15 markets in this 12-month period. Dallas moved up three spots from 2019 to supplant the NYC Boroughs, which since 2015 had held the #1 spot for apartment construction starts.
A version of this article first appeared in the Q1 2021 edition of US Capital Trends. Clients of Real Capital Analytics <<click here>> to download the latest US Capital Trends report from the RCA website. To learn more about how RCA’s reports, data and tools can inform your investment decisions, contact us.