A new survey from Dodge Data and Analytics shows ten cities that saw the biggest hit from the coronavirus shutdown, in terms of new construction.
“The COVID-19 pandemic and recession have devastated most local construction markets,” said Richard Branch, Dodge chief economist, in a release. “Across the board, building projects have been halted or delayed with virtually no sector immune from damage.”
The cities hurt the most are the following:
#1. San Francisco – down 58%
#2. Tampa – down 56%
#3. Nashville – down 54%
#4. Washington D.C. – down 42%
#5. Austin – down 36%
#6. Columbus – down 34%
#7. Philadelphia – down 33%
#8. Boston – down 31%
#9. Orlando – down 27%
#10. New York City – 24%
It shouldn’t be a surprise that San Francisco was the hardest hit: they were one of the first cities to shut down and impose the strictest policies on masking and social distancing. While they have weathered COVID remarkably well, with one of the lowest infection rates for a major city, the construction sector had seen a significant hit.
But it’s not bleak everywhere. Phoenix rose 82% in the first half of 2020 compared to that same time period in 2019. Phoenix, however, has been one of the harder-hit areas by the virus.